ENEL - Daily - Technical analysis published on 12/07/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
56%
11%
33%
My opinion
Bullish above 6.319 EUR
My targets
6.770 EUR (+3.03%)
7.267 EUR (+10.59%)
My analysis
ENEL is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 6.319 EUR. The next resistance located at 6.770 EUR is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 7.267 EUR. After this resistance, buyers could then target 7.786 EUR. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem 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
7.1
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ENEL price is 6.571 EUR. The price has increased by +0.35% since the last closing and was between 6.558 EUR and 6.591 EUR. This implies that the price is at +0.20% from its lowest and at -0.30% from its highest.6.558
6.591
6.571
A study of price movements over other periods shows the following variations:
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of ENEL in Daily shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase are moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near resistance of channel
Type : Bearish
Timeframe : Daily
Near horizontal support
Type : Bullish
Timeframe : Daily
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 | 5.947 | 6.319 | 6.490 | 6.571 | 6.770 | 7.267 | 7.786 |
| Change (%) | -9.50% | -3.84% | -1.23% | - | +3.03% | +10.59% | +18.49% |
| Change | -0.624 | -0.252 | -0.081 | - | +0.199 | +0.696 | +1.215 |
| Level | Major | Major | Intermediate | - | Intermediate | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.448 | 6.484 | 6.516 | 6.552 | 6.584 | 6.620 | 6.652 |
| Camarilla | 6.529 | 6.536 | 6.542 | 6.548 | 6.554 | 6.561 | 6.567 |
| Woodie | 6.446 | 6.483 | 6.514 | 6.551 | 6.582 | 6.619 | 6.650 |
| Fibonacci | 6.484 | 6.510 | 6.526 | 6.552 | 6.578 | 6.594 | 6.620 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.271 | 6.326 | 6.416 | 6.471 | 6.561 | 6.616 | 6.706 |
| Camarilla | 6.467 | 6.480 | 6.494 | 6.507 | 6.520 | 6.534 | 6.547 |
| Woodie | 6.290 | 6.335 | 6.435 | 6.480 | 6.580 | 6.625 | 6.725 |
| Fibonacci | 6.326 | 6.381 | 6.415 | 6.471 | 6.526 | 6.560 | 6.616 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.529 | 5.733 | 6.110 | 6.314 | 6.691 | 6.895 | 7.272 |
| Camarilla | 6.326 | 6.380 | 6.433 | 6.486 | 6.539 | 6.593 | 6.646 |
| Woodie | 5.615 | 5.776 | 6.196 | 6.357 | 6.777 | 6.938 | 7.358 |
| Fibonacci | 5.733 | 5.955 | 6.092 | 6.314 | 6.536 | 6.673 | 6.895 |
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): | 75.27 | |
| MACD (12,26,9): | 0.1330 | |
| Directional Movement: | 24.035 | |
| AROON (14): | 78.571 | |
| DEMA (21): | 6.575 | |
| Parabolic SAR (0,02-0,02-0,2): | 6.503 | |
| Elder Ray (13): | 0.110 | |
| Super Trend (3,10): | 6.363 | |
| Zig ZAG (10): | 6.573 | |
| VORTEX (21): | 1.2520 | |
| Stochastique (14,3,5): | 89.87 | |
| TEMA (21): | 6.615 | |
| Williams %R (14): | -10.74 | |
| Chande Momentum Oscillator (20): | 0.157 | |
| Repulse (5,40,3): | -0.3040 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.3320 | |
| Courbe Coppock: | 6.95 |
| MA7: | 6.519 | |
| MA20: | 6.407 | |
| MA50: | 6.048 | |
| MA100: | 6.075 | |
| MAexp7: | 6.521 | |
| MAexp20: | 6.396 | |
| MAexp50: | 6.205 | |
| MAexp100: | 6.071 | |
| Price / MA7: | +0.80% | |
| Price / MA20: | +2.56% | |
| Price / MA50: | +8.65% | |
| Price / MA100: | +8.16% | |
| Price / MAexp7: | +0.77% | |
| Price / MAexp20: | +2.74% | |
| Price / MAexp50: | +5.90% | |
| Price / MAexp100: | +8.24% |
Quotes :
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15 min delayed data
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Italy Stocks
News
Don't forget to follow the news on ENEL. At the time of publication of this analysis, the latest news was as follows:
- ENEL AND BXP EXECUTE POWER PURCHASE AGREEMENT FOR NEW TEXAS SOLAR PROJECT
- ENEL CHILE ANNOUNCES THE FILING OF THE 2022 ANNUAL REPORT ON FORM 20-F
- GOGORO AND ENEL X ACCELERATE TAIWAN'S ENERGY TRANSITION WITH INTEGRATION OF VIRTUAL POWER PLANT AND 2,500 BATTERY SWAPPING STATIONS ACROSS 1,000+ LOCATIONS
- Louisville Gas and Electric Company and Kentucky Utilities Company Partner with Enel X Way to Increase Public Electric Vehicle Charging Access in Kentucky
- ENEL S.p.A. ANNOUNCES TENDER OFFERS
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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