ERAMET - Daily - Technical analysis published on 05/17/2023 (GMT)
- 147
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
56%
6%
39%
My opinion
Bearish under 97.05 EUR
My targets
81.03 EUR (-8.54%)
78.42 EUR (-11.49%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on ERAMET as long as the price remains well below 97.05 EUR. The sellers' bearish objective is set at 81.03 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 78.42 EUR. In case of crossing, the next objective would be the support located at 71.55 EUR. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
3.4
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 paf333. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ERAMET price is 88.60 EUR. The price registered an increase of +0.63% on the session and was between 87.75 EUR and 89.45 EUR. This implies that the price is at +0.97% from its lowest and at -0.95% from its highest.87.75
89.45
88.60
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by ERAMET:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of ERAMET indicates that the overall trend is strongly bearish. 82.14% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a moderate bullish signal.
Other results related to technical indicators were also found by the Central Indicators scanner:
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
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 resistance of channel
Type : Bearish
Timeframe : Daily
Near support of triangle
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 | 71.55 | 78.42 | 87.53 | 88.60 | 97.05 | 102.88 | 113.86 |
| Change (%) | -19.24% | -11.49% | -1.21% | - | +9.54% | +16.12% | +28.51% |
| Change | -17.05 | -10.18 | -1.07 | - | +8.45 | +14.28 | +25.26 |
| Level | Minor | Minor | Major | - | Minor | Major | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 84.98 | 85.92 | 86.98 | 87.92 | 88.98 | 89.92 | 90.98 |
| Camarilla | 87.50 | 87.68 | 87.87 | 88.05 | 88.23 | 88.42 | 88.60 |
| Woodie | 85.05 | 85.95 | 87.05 | 87.95 | 89.05 | 89.95 | 91.05 |
| Fibonacci | 85.92 | 86.68 | 87.15 | 87.92 | 88.68 | 89.15 | 89.92 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 79.18 | 82.07 | 84.43 | 87.32 | 89.68 | 92.57 | 94.93 |
| Camarilla | 85.36 | 85.84 | 86.32 | 86.80 | 87.28 | 87.76 | 88.24 |
| Woodie | 78.93 | 81.94 | 84.18 | 87.19 | 89.43 | 92.44 | 94.68 |
| Fibonacci | 82.07 | 84.07 | 85.31 | 87.32 | 89.32 | 90.56 | 92.57 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 62.88 | 73.97 | 81.03 | 92.12 | 99.18 | 110.27 | 117.33 |
| Camarilla | 83.11 | 84.77 | 86.44 | 88.10 | 89.76 | 91.43 | 93.09 |
| Woodie | 60.88 | 72.96 | 79.03 | 91.11 | 97.18 | 109.26 | 115.33 |
| Fibonacci | 73.97 | 80.90 | 85.18 | 92.12 | 99.05 | 103.33 | 110.27 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 46.23 | |
| MACD (12,26,9): | -1.8500 | |
| Directional Movement: | -5.86 | |
| AROON (14): | -28.57 | |
| DEMA (21): | 86.62 | |
| Parabolic SAR (0,02-0,02-0,2): | 83.85 | |
| Elder Ray (13): | 0.32 | |
| Super Trend (3,10): | 94.86 | |
| Zig ZAG (10): | 88.50 | |
| VORTEX (21): | 0.8100 | |
| Stochastique (14,3,5): | 63.62 | |
| TEMA (21): | 86.37 | |
| Williams %R (14): | -26.77 | |
| Chande Momentum Oscillator (20): | 0.40 | |
| Repulse (5,40,3): | 1.5300 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.3400 | |
| Courbe Coppock: | 8.49 |
| MA7: | 87.74 | |
| MA20: | 89.11 | |
| MA50: | 93.29 | |
| MA100: | 94.36 | |
| MAexp7: | 87.85 | |
| MAexp20: | 89.21 | |
| MAexp50: | 91.98 | |
| MAexp100: | 92.37 | |
| Price / MA7: | +0.98% | |
| Price / MA20: | -0.57% | |
| Price / MA50: | -5.03% | |
| Price / MA100: | -6.10% | |
| Price / MAexp7: | +0.85% | |
| Price / MAexp20: | -0.68% | |
| Price / MAexp50: | -3.67% | |
| Price / MAexp100: | -4.08% |
Quotes :
-
15 min delayed data
-
Euronext Paris
News
The last news published on ERAMET at the time of the generation of this analysis was as follows:
- Eramet accelerates its CSR commitment with the launch of the first audit within the Initiative for Responsible Mining Assurance system
- Eramet: Launch of a tender offer to repurchase its bonds due February 2024 and potential issuance of inaugural sustainability-linked bonds
- Eramet: Q1 2023 turnover of €775m
- Eramet: Purchase of own shares
- Eramet: Purchase of own shares
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis ERAMET - Daily