ERAMET - 15 min. - Technical analysis published on 05/24/2023 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
50%
17%
33%
My opinion
Bearish under 89.72 EUR
My targets
88.43 EUR (-0.58%)
87.72 EUR (-1.39%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 89.72 EUR remains possible. It is advisable to trade ERAMET with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 89.72 EUR. The next bearish objective for sellers is set at 88.43 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 87.72 EUR. In case of crossing, the next objective would be the support located at 86.43 EUR. PS: if there is a bullish break in the resistance located at 89.72 EUR we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
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
1.4
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Additional analysis
Quotes
The ERAMET price is 88.95 EUR. The price registered a decrease of -0.22% on the session and was between 87.15 EUR and 89.60 EUR. This implies that the price is at +2.07% from its lowest and at -0.73% from its highest.87.15
89.60
88.95
A bearish gap was detected at the opening by the Central Gaps scanner. There are a lot of sellers and they have the upper hand in the very short term.
Opening Gap DOWN
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 ERAMET in 15 min. shows an overall bearish trend. 71.43% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish trend reversal : adaptative moving average 100
Type : Bearish
Timeframe : 15 minutes
Bearish price crossover with Moving Average 50
Type : Bearish
Timeframe : 15 minutes
In fact, according to the parameters integrated into the Central Analyzer system, only 9 technical indicators out of 18 analysed are currently bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 15 minutes
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal support is broken
Type : Bearish
Timeframe : 15 minutes
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 | 84.95 | 86.80 | 87.53 | 88.95 | 88.99 | 90.23 | 90.97 |
| Change (%) | -4.50% | -2.42% | -1.60% | - | +0.04% | +1.44% | +2.27% |
| Change | -4.00 | -2.15 | -1.42 | - | +0.04 | +1.28 | +2.02 |
| Level | Minor | Minor | Major | - | Intermediate | Intermediate | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 86.43 | 87.72 | 88.43 | 89.72 | 90.43 | 91.72 | 92.43 |
| Camarilla | 88.60 | 88.78 | 88.97 | 89.15 | 89.33 | 89.52 | 89.70 |
| Woodie | 86.15 | 87.58 | 88.15 | 89.58 | 90.15 | 91.58 | 92.15 |
| Fibonacci | 87.72 | 88.48 | 88.95 | 89.72 | 90.48 | 90.95 | 91.72 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 82.32 | 84.58 | 87.97 | 90.23 | 93.62 | 95.88 | 99.27 |
| Camarilla | 89.80 | 90.31 | 90.83 | 91.35 | 91.87 | 92.39 | 92.90 |
| Woodie | 82.88 | 84.86 | 88.53 | 90.51 | 94.18 | 96.16 | 99.83 |
| Fibonacci | 84.58 | 86.74 | 88.08 | 90.23 | 92.39 | 93.73 | 95.88 |
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): | 55.12 | |
| MACD (12,26,9): | 0.1600 | |
| Directional Movement: | 1.04 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 88.93 | |
| Parabolic SAR (0,02-0,02-0,2): | 89.60 | |
| Elder Ray (13): | -0.09 | |
| Super Trend (3,10): | 88.57 | |
| Zig ZAG (10): | 88.85 | |
| VORTEX (21): | 1.0900 | |
| Stochastique (14,3,5): | 71.80 | |
| TEMA (21): | 89.29 | |
| Williams %R (14): | -45.71 | |
| Chande Momentum Oscillator (20): | 0.80 | |
| Repulse (5,40,3): | -0.3600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 2.65 |
| MA7: | 89.54 | |
| MA20: | 87.99 | |
| MA50: | 91.91 | |
| MA100: | 94.62 | |
| MAexp7: | 89.14 | |
| MAexp20: | 88.86 | |
| MAexp50: | 89.02 | |
| MAexp100: | 89.38 | |
| Price / MA7: | -0.66% | |
| Price / MA20: | +1.09% | |
| Price / MA50: | -3.22% | |
| Price / MA100: | -5.99% | |
| Price / MAexp7: | -0.21% | |
| Price / MAexp20: | +0.10% | |
| Price / MAexp50: | -0.08% | |
| Price / MAexp100: | -0.48% |
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: Approval of resolutions proposed to the Ordinary Shareholders’ General Meeting of 23 May 2023
- Eramet: Results of the tender offer to repurchase its bonds due February 2024
- 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
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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