COVALENT - CQT/USD - 1H - Technical analysis published on 11/04/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 0.137608 USD
My targets
0.142251 USD (+0.50%)
0.154506 USD (+9.15%)
My analysis
The strong short-term increase for COVALENT - CQT/USD reinforces the current slightly bullish trend. As long as the price remains above 0.137608 USD, you could take advantage of this bullish acceleration. The first bullish objective is located at 0.142251 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 0.154506 USD as an objective. Crossing it would then enable buyers to target 0.162100 USD. A return to 0.137608 USD would be a sign of a possible correction of short-term bullish excesses. In this case, you could stay away while waiting for signals indicating a reversal of the trend.
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
4.6
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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 COVALENT - CQT/USD rating is 0.141548 USD. The price has increased by +7.24% since the last closing and was traded between 0.130601 USD and 0.142109 USD over the period. The price is currently at +8.38% from its lowest and -0.39% from its highest.0.130601
0.142109
0.141548
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of COVALENT - CQT/USD indicates that the overall trend is slightly bullish. 53.57% of the signals given by moving averages are bullish. This slightly bullish trend could be reinforced by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
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
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.126385 | 0.131557 | 0.137608 | 0.141548 | 0.142208 | 0.154506 | 0.162100 |
| Change (%) | -10.71% | -7.06% | -2.78% | - | +0.47% | +9.15% | +14.52% |
| Change | -0.015163 | -0.009991 | -0.003940 | - | +0.000660 | +0.012958 | +0.020552 |
| Level | Intermediate | Minor | Major | - | Minor | Major | 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 | 0.112154 | 0.119269 | 0.125632 | 0.132747 | 0.139110 | 0.146225 | 0.152588 |
| Camarilla | 0.128288 | 0.129523 | 0.130759 | 0.131994 | 0.133230 | 0.134465 | 0.135701 |
| Woodie | 0.111777 | 0.119081 | 0.125255 | 0.132559 | 0.138733 | 0.146037 | 0.152211 |
| Fibonacci | 0.119269 | 0.124418 | 0.127599 | 0.132747 | 0.137896 | 0.141077 | 0.146225 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.085837 | 0.103260 | 0.124828 | 0.142251 | 0.163819 | 0.181242 | 0.202810 |
| Camarilla | 0.135674 | 0.139248 | 0.142822 | 0.146396 | 0.149970 | 0.153544 | 0.157119 |
| Woodie | 0.087910 | 0.104296 | 0.126901 | 0.143287 | 0.165892 | 0.182278 | 0.204883 |
| Fibonacci | 0.103260 | 0.118155 | 0.127356 | 0.142251 | 0.157146 | 0.166347 | 0.181242 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.031970 | 0.064496 | 0.103246 | 0.135772 | 0.174522 | 0.207048 | 0.245798 |
| Camarilla | 0.122396 | 0.128930 | 0.135463 | 0.141997 | 0.148531 | 0.155064 | 0.161598 |
| Woodie | 0.035083 | 0.066052 | 0.106359 | 0.137328 | 0.177635 | 0.208604 | 0.248911 |
| Fibonacci | 0.064496 | 0.091723 | 0.108544 | 0.135772 | 0.162999 | 0.179820 | 0.207048 |
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): | 66.05 | |
| MACD (12,26,9): | 0.0010 | |
| Directional Movement: | 20.482763 | |
| AROON (14): | 35.714286 | |
| DEMA (21): | 0.136472 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.137018 | |
| Elder Ray (13): | 0.003576 | |
| Super Trend (3,10): | 0.134693 | |
| Zig ZAG (10): | 0.140773 | |
| VORTEX (21): | 1.1978 | |
| Stochastique (14,3,5): | 85.71 | |
| TEMA (21): | 0.139748 | |
| Williams %R (14): | -11.37 | |
| Chande Momentum Oscillator (20): | 0.008701 | |
| Repulse (5,40,3): | 2.2286 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0052 | |
| Courbe Coppock: | 11.14 |
| MA7: | 0.141546 | |
| MA20: | 0.133675 | |
| MA50: | 0.112539 | |
| MA100: | 0.100156 | |
| MAexp7: | 0.139033 | |
| MAexp20: | 0.135857 | |
| MAexp50: | 0.136892 | |
| MAexp100: | 0.138979 | |
| Price / MA7: | +0.00% | |
| Price / MA20: | +5.89% | |
| Price / MA50: | +25.78% | |
| Price / MA100: | +41.33% | |
| Price / MAexp7: | +1.81% | |
| Price / MAexp20: | +4.19% | |
| Price / MAexp50: | +3.40% | |
| Price / MAexp100: | +1.85% |
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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