PRODWAYS - Daily - Technical analysis published on 07/06/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
56%
11%
33%
My opinion
Bearish under 1.811 EUR
My targets
1.565 EUR (-7.94%)
My analysis
PRODWAYS is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 1.811 EUR. The next support located at 1.565 EUR is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
4.6
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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 PRODWAYS price is 1.700 EUR. On the day, this instrument lost -0.12% with the lowest point at 1.688 EUR and the highest point at 1.702 EUR. The deviation from the price is +0.71% for the low point and -0.12% for the high point.1.688
1.702
1.700
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
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this Daily chart of PRODWAYS indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 10 technical indicators on 18 studied are currently bullish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these signals that could have an impact on the current short-term trend:
Doji
Type : Neutral
Timeframe : Daily
Bearish harami cross
Type : Bearish
Timeframe : Daily
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 1.565 | 1.700 | 2.085 | 2.653 | 3.093 |
| Change (%) | -7.94% | - | +22.65% | +56.06% | +81.94% |
| Change | -0.135 | - | +0.385 | +0.953 | +1.393 |
| Level | Major | - | Intermediate | Intermediate | Minor |
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 | 1.597 | 1.623 | 1.663 | 1.689 | 1.729 | 1.755 | 1.795 |
| Camarilla | 1.684 | 1.690 | 1.696 | 1.702 | 1.708 | 1.714 | 1.720 |
| Woodie | 1.603 | 1.627 | 1.669 | 1.693 | 1.735 | 1.759 | 1.801 |
| Fibonacci | 1.623 | 1.649 | 1.664 | 1.689 | 1.715 | 1.730 | 1.755 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.495 | 1.531 | 1.579 | 1.615 | 1.663 | 1.699 | 1.747 |
| Camarilla | 1.605 | 1.613 | 1.620 | 1.628 | 1.636 | 1.643 | 1.651 |
| Woodie | 1.502 | 1.534 | 1.586 | 1.618 | 1.670 | 1.702 | 1.754 |
| Fibonacci | 1.531 | 1.563 | 1.583 | 1.615 | 1.647 | 1.667 | 1.699 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.285 | 0.855 | 1.241 | 1.811 | 2.197 | 2.767 | 3.153 |
| Camarilla | 1.365 | 1.453 | 1.540 | 1.628 | 1.716 | 1.803 | 1.891 |
| Woodie | 0.194 | 0.809 | 1.150 | 1.765 | 2.106 | 2.721 | 3.062 |
| Fibonacci | 0.855 | 1.220 | 1.446 | 1.811 | 2.176 | 2.402 | 2.767 |
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): | 40.45 | |
| MACD (12,26,9): | -0.1060 | |
| Directional Movement: | -13.568 | |
| AROON (14): | 28.571 | |
| DEMA (21): | 1.595 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.445 | |
| Elder Ray (13): | 0.003 | |
| Super Trend (3,10): | 1.845 | |
| Zig ZAG (10): | 1.700 | |
| VORTEX (21): | 0.8830 | |
| Stochastique (14,3,5): | 79.44 | |
| TEMA (21): | 1.587 | |
| Williams %R (14): | -20.24 | |
| Chande Momentum Oscillator (20): | 0.040 | |
| Repulse (5,40,3): | 4.5270 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.9600 | |
| Courbe Coppock: | 14.72 |
| MA7: | 1.653 | |
| MA20: | 1.717 | |
| MA50: | 1.980 | |
| MA100: | 2.253 | |
| MAexp7: | 1.670 | |
| MAexp20: | 1.746 | |
| MAexp50: | 1.957 | |
| MAexp100: | 2.238 | |
| Price / MA7: | +2.84% | |
| Price / MA20: | -0.99% | |
| Price / MA50: | -14.14% | |
| Price / MA100: | -24.55% | |
| Price / MAexp7: | +1.80% | |
| Price / MAexp20: | -2.63% | |
| Price / MAexp50: | -13.13% | |
| Price / MAexp100: | -24.04% |
Quotes :
-
15 min delayed data
-
Euronext Paris
News
Don't forget to follow the news on PRODWAYS. At the time of publication of this analysis, the latest news was as follows:
- Prodways Group: review of outlook 2023
- Prodways Group announces the availability of its 2022 Universal Registration Document including the Annual Financial Report
- Activity of the 1st quarter 2023: a start to the year in line with expectations
- Record 2022 results and acceleration of the development
- Prodways strengthens its materials portfolio and continues its expansion in the dental market with Provivic Denture Base
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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