SOLAR - SXP/USD - 1H - Technical analysis published on 05/12/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
44%
6%
50%
My opinion
Bearish under 0.440000 USD
My targets
0.400000 USD (-4.76%)
0.353333 USD (-15.87%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on SXP - SXP/USD. As long as you are under the resistance located at 0.440000 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 0.400000 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 0.353333 USD as an objective. Crossing it would then enable sellers to target 0.348182 USD. If the resistance 0.440000 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
2
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
SXP - SXP/USD rating 0.420000 USD. The price has increased by +2.44% since the last closing with the lowest point at 0.400000 USD and the highest point at 0.430000 USD. The deviation from the price is +5.00% for the low point and -2.33% for the high point.0.400000
0.430000
0.420000
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this SXP - SXP/USD chart shows a bearish trend. The signals given by moving averages are 75.00% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
In fact, only 8 technical indicators out of 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.219286 | 0.348182 | 0.400000 | 0.420000 | 0.440000 | 0.480000 | 0.510000 |
| Change (%) | -47.79% | -17.10% | -4.76% | - | +4.76% | +14.29% | +21.43% |
| Change | -0.200714 | -0.071818 | -0.020000 | - | +0.020000 | +0.060000 | +0.090000 |
| Level | Major | Minor | Intermediate | - | Intermediate | 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 | 0.353333 | 0.376667 | 0.393333 | 0.416667 | 0.433333 | 0.456667 | 0.473333 |
| Camarilla | 0.399000 | 0.402667 | 0.406333 | 0.410000 | 0.413667 | 0.417333 | 0.421000 |
| Woodie | 0.350000 | 0.375000 | 0.390000 | 0.415000 | 0.430000 | 0.455000 | 0.470000 |
| Fibonacci | 0.376667 | 0.391947 | 0.401387 | 0.416667 | 0.431947 | 0.441387 | 0.456667 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.353333 | 0.426667 | 0.463333 | 0.536667 | 0.573333 | 0.646667 | 0.683333 |
| Camarilla | 0.469750 | 0.479833 | 0.489917 | 0.500000 | 0.510083 | 0.520167 | 0.530250 |
| Woodie | 0.335000 | 0.417500 | 0.445000 | 0.527500 | 0.555000 | 0.637500 | 0.665000 |
| Fibonacci | 0.426667 | 0.468687 | 0.494647 | 0.536667 | 0.578687 | 0.604647 | 0.646667 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.013333 | 0.253333 | 0.406667 | 0.673333 | 0.826667 | 1.093333 | 1.246667 |
| Camarilla | 0.444500 | 0.483000 | 0.521500 | 0.560000 | 0.598500 | 0.637000 | 0.675500 |
| Woodie | -0.070000 | 0.225000 | 0.350000 | 0.645000 | 0.770000 | 1.065000 | 1.190000 |
| Fibonacci | 0.253333 | 0.413773 | 0.512893 | 0.673333 | 0.833773 | 0.932893 | 1.093333 |
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): | 46.33 | |
| MACD (12,26,9): | -0.0017 | |
| Directional Movement: | 11.721483 | |
| AROON (14): | 50.000000 | |
| DEMA (21): | 0.412752 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.400000 | |
| Elder Ray (13): | 0.000305 | |
| Super Trend (3,10): | 0.377020 | |
| Zig ZAG (10): | 0.420000 | |
| VORTEX (21): | 0.9655 | |
| Stochastique (14,3,5): | 77.78 | |
| TEMA (21): | 0.417730 | |
| Williams %R (14): | -66.67 | |
| Chande Momentum Oscillator (20): | 0.000000 | |
| Repulse (5,40,3): | 0.2511 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1225 | |
| Courbe Coppock: | 0.18 |
| MA7: | 0.450000 | |
| MA20: | 0.526500 | |
| MA50: | 0.563600 | |
| MA100: | 0.433300 | |
| MAexp7: | 0.414004 | |
| MAexp20: | 0.416032 | |
| MAexp50: | 0.423782 | |
| MAexp100: | 0.440754 | |
| Price / MA7: | -6.67% | |
| Price / MA20: | -20.23% | |
| Price / MA50: | -25.48% | |
| Price / MA100: | -3.07% | |
| Price / MAexp7: | +1.45% | |
| Price / MAexp20: | +0.95% | |
| Price / MAexp50: | -0.89% | |
| Price / MAexp100: | -4.71% |
Quotes :
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Real time data
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Cryptocompare
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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