FORVIA - 1H - Technical analysis published on 08/14/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Neutral
Technical indicators
89%
0%
11%
My opinion
Bullish above 9.219 EUR
My targets
9.551 EUR (+1.99%)
9.962 EUR (+6.39%)
My analysis
The current short-term bullish acceleration on FORVIA should quickly allow the basic trend to return to bullish. To avoid contradicting the short term, traders may prefer long positions (at the time of purchase) as long as the price remains well above 9.219 EUR. Short-term buyers will use the resistance located at 9.551 EUR as an objective. A bullish break in this resistance would boost the bullish momentum. The next bullish objective would then be set at 9.962 EUR. Crossing this resistance would then open the door for buyers to target 10.635 EUR. Caution, if there is a return to under 9.219 EUR, it should not be forgotten that the basic trend is not yet clearly defined. Beware of against the trend sellers, many of whom will certainly benefit from this movement.
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
4.3
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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 FORVIA price is 9.364 EUR. The price registered an increase of +2.29% on the session and was between 9.144 EUR and 9.400 EUR. This implies that the price is at +2.41% from its lowest and at -0.38% from its highest.9.144
9.400
9.364
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
A study of price movements over other periods shows the following variations:
Near a new LOW record (5 years)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this FORVIA chart shows a neutral trend. This indecision could turn into a bullish trend due to the strong bullish signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 16 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
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
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 8.822 | 9.219 | 9.364 | 9.962 | 10.635 | 11.198 |
| Change (%) | -5.79% | -1.55% | - | +6.39% | +13.57% | +19.59% |
| Change | -0.542 | -0.145 | - | +0.598 | +1.271 | +1.834 |
| Level | Intermediate | Major | - | Minor | 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 | 8.742 | 8.858 | 9.006 | 9.122 | 9.270 | 9.386 | 9.534 |
| Camarilla | 9.081 | 9.106 | 9.130 | 9.154 | 9.178 | 9.202 | 9.227 |
| Woodie | 8.758 | 8.866 | 9.022 | 9.130 | 9.286 | 9.394 | 9.550 |
| Fibonacci | 8.858 | 8.959 | 9.021 | 9.122 | 9.223 | 9.285 | 9.386 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.927 | 8.323 | 8.739 | 9.135 | 9.551 | 9.947 | 10.363 |
| Camarilla | 8.931 | 9.005 | 9.080 | 9.154 | 9.228 | 9.303 | 9.377 |
| Woodie | 7.936 | 8.328 | 8.748 | 9.140 | 9.560 | 9.952 | 10.372 |
| Fibonacci | 8.323 | 8.634 | 8.825 | 9.135 | 9.446 | 9.637 | 9.947 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.933 | 8.948 | 9.891 | 10.906 | 11.849 | 12.864 | 13.807 |
| Camarilla | 10.297 | 10.476 | 10.656 | 10.835 | 11.015 | 11.194 | 11.374 |
| Woodie | 7.898 | 8.930 | 9.856 | 10.888 | 11.814 | 12.846 | 13.772 |
| Fibonacci | 8.948 | 9.696 | 10.158 | 10.906 | 11.654 | 12.116 | 12.864 |
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): | 64.82 | |
| MACD (12,26,9): | 0.0430 | |
| Directional Movement: | 19.435 | |
| AROON (14): | 50.000 | |
| DEMA (21): | 9.230 | |
| Parabolic SAR (0,02-0,02-0,2): | 9.029 | |
| Elder Ray (13): | 0.131 | |
| Super Trend (3,10): | 9.075 | |
| Zig ZAG (10): | 9.376 | |
| VORTEX (21): | 1.1020 | |
| Stochastique (14,3,5): | 92.19 | |
| TEMA (21): | 9.291 | |
| Williams %R (14): | -5.63 | |
| Chande Momentum Oscillator (20): | 0.214 | |
| Repulse (5,40,3): | 1.3570 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0250 | |
| Courbe Coppock: | 2.75 |
| MA7: | 9.133 | |
| MA20: | 9.960 | |
| MA50: | 11.064 | |
| MA100: | 12.680 | |
| MAexp7: | 9.258 | |
| MAexp20: | 9.186 | |
| MAexp50: | 9.228 | |
| MAexp100: | 9.498 | |
| Price / MA7: | +2.53% | |
| Price / MA20: | -5.98% | |
| Price / MA50: | -15.37% | |
| Price / MA100: | -26.15% | |
| Price / MAexp7: | +1.14% | |
| Price / MAexp20: | +1.94% | |
| Price / MAexp50: | +1.47% | |
| Price / MAexp100: | -1.41% |
Quotes :
-
15 min delayed data
-
Euronext Paris
News
The last news published on FORVIA at the time of the generation of this analysis was as follows:
- CANCEL AND REPLACE - AVAILABILITY OF THE FINANCIAL REPORT FOR THE FIRST HALF OF 2024
- H1 2024 RESULTS
- FORVIA: Share Buyback Transaction Statement From 06 May 2024 to 10 May 2024
- FORVIA: Total number of voting rights and shares forming the share capital
- FORVIA: Share Buyback Transaction Statement from 29 April 2024 to 03 May 2024
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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