FORVIA - 1H - Technical analysis published on 10/24/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
61%
17%
22%
My opinion
Bullish above 8.770 EUR
My targets
9.219 EUR (+2.23%)
9.874 EUR (+9.49%)
My analysis
FORVIA 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 8.770 EUR. The next resistance located at 9.219 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 9.874 EUR. After this resistance, buyers could then target 12.266 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.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.5
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Additional analysis
Quotes
The FORVIA price is 9.018 EUR. On the day, this instrument gained +5.33% with the lowest point at 8.626 EUR and the highest point at 9.044 EUR. The deviation from the price is +4.54% for the low point and -0.29% for the high point.8.626
9.044
9.018
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this 1H chart of FORVIA indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by 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:
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
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Near support of channel
Type : Bullish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish doji star
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.958 | 8.386 | 8.770 | 9.018 | 9.219 | 9.874 | 12.266 |
| Change (%) | -11.75% | -7.01% | -2.75% | - | +2.23% | +9.49% | +36.02% |
| Change | -1.060 | -0.632 | -0.248 | - | +0.201 | +0.856 | +3.248 |
| Level | Major | Minor | Intermediate | - | Major | Minor | Intermediate |
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 | 7.818 | 8.190 | 8.376 | 8.748 | 8.934 | 9.306 | 9.492 |
| Camarilla | 8.409 | 8.460 | 8.511 | 8.562 | 8.613 | 8.664 | 8.716 |
| Woodie | 7.725 | 8.144 | 8.283 | 8.702 | 8.841 | 9.260 | 9.399 |
| Fibonacci | 8.190 | 8.403 | 8.535 | 8.748 | 8.961 | 9.093 | 9.306 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.462 | 6.942 | 7.452 | 7.932 | 8.442 | 8.922 | 9.432 |
| Camarilla | 7.690 | 7.781 | 7.871 | 7.962 | 8.053 | 8.144 | 8.234 |
| Woodie | 6.477 | 6.950 | 7.467 | 7.940 | 8.457 | 8.930 | 9.447 |
| Fibonacci | 6.942 | 7.320 | 7.554 | 7.932 | 8.310 | 8.544 | 8.922 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.923 | 6.843 | 8.035 | 8.955 | 10.147 | 11.067 | 12.259 |
| Camarilla | 8.647 | 8.841 | 9.034 | 9.228 | 9.422 | 9.615 | 9.809 |
| Woodie | 6.060 | 6.911 | 8.172 | 9.023 | 10.284 | 11.135 | 12.396 |
| Fibonacci | 6.843 | 7.650 | 8.148 | 8.955 | 9.762 | 10.260 | 11.067 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 64.29 | |
| MACD (12,26,9): | 0.1340 | |
| Directional Movement: | 20.225 | |
| AROON (14): | -57.142 | |
| DEMA (21): | 8.969 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.571 | |
| Elder Ray (13): | 0.171 | |
| Super Trend (3,10): | 8.580 | |
| Zig ZAG (10): | 9.028 | |
| VORTEX (21): | 1.1760 | |
| Stochastique (14,3,5): | 72.52 | |
| TEMA (21): | 8.965 | |
| Williams %R (14): | -13.98 | |
| Chande Momentum Oscillator (20): | 0.204 | |
| Repulse (5,40,3): | 2.3090 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2710 | |
| Courbe Coppock: | 2.25 |
| MA7: | 8.310 | |
| MA20: | 8.574 | |
| MA50: | 8.768 | |
| MA100: | 9.872 | |
| MAexp7: | 8.880 | |
| MAexp20: | 8.777 | |
| MAexp50: | 8.544 | |
| MAexp100: | 8.449 | |
| Price / MA7: | +8.52% | |
| Price / MA20: | +5.18% | |
| Price / MA50: | +2.85% | |
| Price / MA100: | -8.65% | |
| Price / MAexp7: | +1.55% | |
| Price / MAexp20: | +2.75% | |
| Price / MAexp50: | +5.55% | |
| Price / MAexp100: | +6.73% |
Quotes :
-
15 min delayed data
-
Euronext Paris
News
The latest news and videos published on FORVIA at the time of the analysis were as follows:
- FORVIA: Total number of voting rights and shares forming the share capital
- 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
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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