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 11/03/2023 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Bearish

Technical indicators

50%

17%

33%

My opinion

Bearish under 29.13 EUR

My targets

26.96 EUR (-4.67%)

26.12 EUR (-7.64%)

My analysis

MICHELIN 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 29.13 EUR. The next support located at 26.96 EUR is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 26.12 EUR. Below this support, sellers could then target 24.02 EUR.

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

3.2

Comment on the analysis

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.

This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

MICHELIN rating 28.28 EUR. The price registered a decrease of -0.04% on the session and was traded between 28.19 EUR and 28.57 EUR over the period. The price is currently at +0.32% from its lowest and -1.02% from its highest.

28.19

28.57

28.28

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by MICHELIN:

The Central Records scanner for higher/lower results shows an item:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of MICHELIN in Daily shows an overall bearish trend. 75.00% of the signals given by moving averages are bearish. The overall trend is reinforced by the strong bearish signals from 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 slight given the direction of the technical indicators.
The Central Indicators scanner found this result concerning these indicators:

Price is back under the pivot point

Type : Bearish

Timeframe : Daily

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

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

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	26.12	26.96	28.13	28.28	28.48	29.13	29.91
Change (%)	-7.64%	-4.67%	-0.53%	-	+0.71%	+3.01%	+5.76%
Change	-2.16	-1.32	-0.15	-	+0.20	+0.85	+1.63
Level	Intermediate	Major	Major	-	Major	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	27.10	27.53	27.91	28.34	28.72	29.15	29.53
Camarilla	28.07	28.14	28.22	28.29	28.36	28.44	28.51
Woodie	27.08	27.52	27.89	28.33	28.70	29.14	29.51
Fibonacci	27.53	27.84	28.03	28.34	28.65	28.84	29.15

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	25.07	25.80	26.78	27.51	28.49	29.22	30.20
Camarilla	27.28	27.44	27.59	27.75	27.91	28.06	28.22
Woodie	25.19	25.86	26.90	27.57	28.61	29.28	30.32
Fibonacci	25.80	26.46	26.86	27.51	28.17	28.57	29.22

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	23.01	24.77	26.40	28.16	29.79	31.55	33.18
Camarilla	27.09	27.40	27.71	28.02	28.33	28.64	28.95
Woodie	22.94	24.74	26.33	28.13	29.72	31.52	33.11
Fibonacci	24.77	26.07	26.87	28.16	29.46	30.26	31.55

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):	47.42
MACD (12,26,9):	-0.3000
Directional Movement:	-7.16
AROON (14):	-57.14
DEMA (21):	27.93
Parabolic SAR (0,02-0,02-0,2):	26.66
Elder Ray (13):	0.21
Super Trend (3,10):	29.01
Zig ZAG (10):	28.32
VORTEX (21):	0.9000
Stochastique (14,3,5):	55.10
TEMA (21):	27.78
Williams %R (14):	-39.46
Chande Momentum Oscillator (20):	-0.49
Repulse (5,40,3):	-1.5100
ROCnROLL:	-1
TRIX (15,9):	-0.1800
Courbe Coppock:	8.07

MA7:	27.99
MA20:	28.45
MA50:	29.03
MA100:	28.47
MAexp7:	28.08
MAexp20:	28.33
MAexp50:	28.64
MAexp100:	28.48
Price / MA7:	+1.04%
Price / MA20:	-0.60%
Price / MA50:	-2.58%
Price / MA100:	-0.67%
Price / MAexp7:	+0.71%
Price / MAexp20:	-0.18%
Price / MAexp50:	-1.26%
Price / MAexp100:	-0.70%

Quotes : - 15 min delayed data - Euronext Paris

News

The last news published on MICHELIN at the time of the generation of this analysis was as follows:

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

About author

Londinia AI

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