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MICHELIN
MICHELIN
- EUR (-)
- 15 min delayed data - Euronext Paris
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Stocks
Ticker: ML
ISIN: FR001400AJ45

MICHELIN - Daily - Technical analysis published on 10/16/2023 (GMT)

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  • Timeframe : Daily
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Summary of the analysis

Trends
Short term: Bullish
Underlying: Bullish
Technical indicators
39%
11%
50%
My opinion
Bullish above 28.48 EUR
My targets
29.91 EUR (+1.67%)
30.36 EUR (+3.20%)
My analysis
All elements being rather bullish, it would be possible for traders to only trade long positions (at the time of purchase) on MICHELIN as long as the price remains well above 28.48 EUR. The buyers' bullish objective is set at 29.91 EUR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 30.36 EUR. If there is any crossing, the next objective would be the resistance located at 31.67 EUR. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bullish, basic trend. If you have another key point closer to the current price, it would be better to only trade long positions (at the time of purchase) above that key point.

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
4.8

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

Londinia
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Weekly

Additional analysis

Quotes

The MICHELIN rating is 29.42 EUR. The price registered an increase of +1.34% on the session and was between 29.22 EUR and 29.42 EUR. This implies that the price is at +0.68% from its lowest and at 0% from its highest.

29.22
29.42
29.42

So that you have an overall view of the price change, here is a table showing the variations over several periods:
The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Central Records

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly


Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly


Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of MICHELIN in Daily shows an overall bullish trend. 78.57% of the signals given by moving averages are bullish. This bullish trend shows slight signs of slowing down given the slightly bullish signals given by the short-term moving averages. An assessment of moving averages reveals several bearish and bullish signals:

Central Indicators

Bullish trend reversal : Moving Average 50

Type : Bullish

Timeframe : Daily


Bearish price crossover with Moving Average 20

Type : Bearish

Timeframe : Daily


Bearish price crossover with Moving Average 50

Type : Bearish

Timeframe : Daily


Bearish price crossover with adaptative moving average 20

Type : Bearish

Timeframe : Daily


Bearish price crossover with adaptative moving average 50

Type : Bearish

Timeframe : Daily



The probability of a further increase is slight given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

Central Indicators

MACD indicator: bearish divergence

Type : Bearish

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Central Indicators

Pivot points : price is under support 3

Type : Neutral

Timeframe : Daily


RSI indicator is back under 50

Type : Bearish

Timeframe : Daily



Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 26.96 28.48 29.13 29.42 29.52 29.91 30.36
Change (%) -8.36% -3.20% -0.99% - +0.34% +1.67% +3.20%
Change -2.46 -0.94 -0.29 - +0.10 +0.49 +0.94
Level Major Major Major - Intermediate Major Major



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
Standard28.1028.5128.7729.1829.4429.8530.11
Camarilla28.8528.9128.9729.0329.0929.1529.21
Woodie28.0328.4728.7029.1429.3729.8130.04
Fibonacci28.5128.7728.9229.1829.4429.5929.85


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard27.5128.1828.6029.2729.6930.3630.78
Camarilla28.7328.8328.9329.0329.1329.2329.33
Woodie27.4028.1228.4929.2129.5830.3030.67
Fibonacci28.1828.5928.8529.2729.6829.9430.36


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard25.8627.0828.0829.3030.3031.5232.52
Camarilla28.4628.6628.8729.0729.2729.4829.68
Woodie25.7427.0327.9629.2530.1831.4732.40
Fibonacci27.0827.9328.4629.3030.1530.6831.52

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): 46.50
MACD (12,26,9): -0.0100
Directional Movement: -4.46
AROON (14): 42.86
DEMA (21): 29.27
Parabolic SAR (0,02-0,02-0,2): 28.31
Elder Ray (13): 0.01
Super Trend (3,10): 29.87
Zig ZAG (10): 29.03
VORTEX (21): 0.8700
Stochastique (14,3,5): 71.39
TEMA (21): 29.13
Williams %R (14): -47.62
Chande Momentum Oscillator (20): 0.11
Repulse (5,40,3): -2.1600
ROCnROLL: -1
TRIX (15,9): -0.0100
Courbe Coppock: 2.99
MA7: 29.25
MA20: 29.35
MA50: 29.15
MA100: 28.36
MAexp7: 29.26
MAexp20: 29.27
MAexp50: 29.08
MAexp100: 28.58
Price / MA7: +0.58%
Price / MA20: +0.24%
Price / MA50: +0.93%
Price / MA100: +3.74%
Price / MAexp7: +0.55%
Price / MAexp20: +0.51%
Price / MAexp50: +1.17%
Price / MAexp100: +2.94%

Quotes : - 15 min delayed data - Euronext Paris

News


Don't forget to follow the news on MICHELIN. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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