EDP - 1H - Technical analysis published on 10/17/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 3.695 EUR
My targets
3.905 EUR (+2.33%)
3.980 EUR (+4.30%)
My analysis
In the short term, there could be an acceleration of the basic bullish trend on EDP. This is a positive signal for buyers. As long as the price remains above 3.695 EUR, a purchase could be considered. The first bullish objective is located at 3.905 EUR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 3.980 EUR as an objective. Crossing it would then enable buyers to target 4.074 EUR. In the event of a return below 3.695 EUR, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.6
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EDP rating is 3.816 EUR. On the day, this instrument gained +1.52% with the lowest point at 3.759 EUR and the highest point at 3.830 EUR. The deviation from the price is +1.52% for the low point and -0.37% for the high point.3.759
3.830
3.816
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by EDP:
Technical
Technical analysis of EDP in 1H shows an overall bullish trend. 71.43% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
MACD indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3.528 | 3.601 | 3.695 | 3.816 | 3.905 | 3.980 | 4.074 |
| Change (%) | -7.55% | -5.63% | -3.17% | - | +2.33% | +4.30% | +6.76% |
| Change | -0.288 | -0.215 | -0.121 | - | +0.089 | +0.164 | +0.258 |
| Level | Major | Minor | Major | - | Major | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.639 | 3.666 | 3.713 | 3.740 | 3.787 | 3.814 | 3.861 |
| Camarilla | 3.739 | 3.745 | 3.752 | 3.759 | 3.766 | 3.773 | 3.779 |
| Woodie | 3.648 | 3.671 | 3.722 | 3.745 | 3.796 | 3.819 | 3.870 |
| Fibonacci | 3.666 | 3.695 | 3.712 | 3.740 | 3.769 | 3.786 | 3.814 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.333 | 3.481 | 3.598 | 3.746 | 3.863 | 4.011 | 4.128 |
| Camarilla | 3.643 | 3.667 | 3.692 | 3.716 | 3.740 | 3.765 | 3.789 |
| Woodie | 3.319 | 3.473 | 3.584 | 3.738 | 3.849 | 4.003 | 4.114 |
| Fibonacci | 3.481 | 3.582 | 3.644 | 3.746 | 3.847 | 3.909 | 4.011 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.425 | 3.667 | 3.801 | 4.043 | 4.177 | 4.419 | 4.553 |
| Camarilla | 3.833 | 3.867 | 3.902 | 3.936 | 3.971 | 4.005 | 4.039 |
| Woodie | 3.372 | 3.640 | 3.748 | 4.016 | 4.124 | 4.392 | 4.500 |
| Fibonacci | 3.667 | 3.810 | 3.899 | 4.043 | 4.186 | 4.275 | 4.419 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 63.12 | |
| MACD (12,26,9): | 0.0030 | |
| Directional Movement: | 11.875 | |
| AROON (14): | 57.143 | |
| DEMA (21): | 3.765 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.719 | |
| Elder Ray (13): | 0.050 | |
| Super Trend (3,10): | 3.725 | |
| Zig ZAG (10): | 3.817 | |
| VORTEX (21): | 1.0190 | |
| Stochastique (14,3,5): | 89.33 | |
| TEMA (21): | 3.766 | |
| Williams %R (14): | -10.29 | |
| Chande Momentum Oscillator (20): | 0.086 | |
| Repulse (5,40,3): | 1.3090 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0370 | |
| Courbe Coppock: | 1.83 |
| MA7: | 3.760 | |
| MA20: | 3.859 | |
| MA50: | 4.052 | |
| MA100: | 4.239 | |
| MAexp7: | 3.778 | |
| MAexp20: | 3.765 | |
| MAexp50: | 3.764 | |
| MAexp100: | 3.793 | |
| Price / MA7: | +1.49% | |
| Price / MA20: | -1.11% | |
| Price / MA50: | -5.82% | |
| Price / MA100: | -9.98% | |
| Price / MAexp7: | +1.01% | |
| Price / MAexp20: | +1.35% | |
| Price / MAexp50: | +1.38% | |
| Price / MAexp100: | +0.61% |
Quotes :
-
15 min delayed data
-
Euronext Lisbonne
News
Don't forget to follow the news on EDP. At the time of publication of this analysis, the latest news was as follows:
- Kuva Systems, the leading Industrial IoT methane emission detection platform and Montrose Sensible EDP, a leader in revolutionizing the way environmental data is managed and monitored have collaborated to provide a comprehensive suite of environmental data technology
- Parade Technologies Announces World’s First Integrated Display eDP Timing Controller with Embedded Source Drivers and Touchscreen Controller for Notebook LTPS and Oxide In-Cell Panels
- EDP Partners with Vodafone Portugal and TechSee to Launch Visual Assistance for Customers and Field Technicians
- NIPSCO, EDP Renewables to Bring Indiana Crossroads II Wind Farm and Indiana Crossroads Solar Park to Northwest Indiana
- EdpFinance B.V. - Half Year Report 2020
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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