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 07/30/2024 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

78%

22%

My opinion

Bullish above 34.41 EUR

My targets

38.37 EUR (+4.72%)

My analysis

MICHELIN is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 34.41 EUR. The next resistance located at 38.37 EUR is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. With the current pattern, you will need to monitor for possible bullish 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 bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

7.5

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.

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Additional analysis

Quotes

MICHELIN rating 36.64 EUR. On the day, this instrument gained +1.13% and was between 36.28 EUR and 36.75 EUR. This implies that the price is at +0.99% from its lowest and at -0.30% from its highest.

36.28

36.75

36.64

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, which identifies the highest / lowest, has detected several elements:

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

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 a strongly overall bullish trend. The signals given by the moving averages are 82.14% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:

Bullish price crossover with Moving Average 50

Type : Bullish

Timeframe : Daily

Bullish price crossover with adaptative moving average 50

Type : Bullish

Timeframe : Daily

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

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Daily

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Near horizontal resistance

Type : Bearish

Timeframe : Daily

Resistance of channel is broken

Type : Bullish

Timeframe : Daily

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	29.30	31.44	34.41	36.64	36.95	38.37
Change (%)	-20.03%	-14.19%	-6.09%	-	+0.85%	+4.72%
Change	-7.34	-5.20	-2.23	-	+0.31	+1.73
Level	Major	Intermediate	Major	-	Intermediate	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
Standard	35.64	35.84	36.03	36.23	36.42	36.62	36.81
Camarilla	36.12	36.16	36.19	36.23	36.27	36.30	36.34
Woodie	35.65	35.84	36.04	36.23	36.43	36.62	36.82
Fibonacci	35.84	35.99	36.08	36.23	36.38	36.47	36.62

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	32.59	33.36	34.92	35.69	37.25	38.02	39.58
Camarilla	35.83	36.04	36.26	36.47	36.68	36.90	37.11
Woodie	32.98	33.56	35.31	35.89	37.64	38.22	39.97
Fibonacci	33.36	34.25	34.80	35.69	36.58	37.13	38.02

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	32.45	34.14	35.13	36.82	37.81	39.50	40.49
Camarilla	35.37	35.62	35.86	36.11	36.36	36.60	36.85
Woodie	32.09	33.97	34.77	36.65	37.45	39.33	40.13
Fibonacci	34.14	35.17	35.80	36.82	37.85	38.48	39.50

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):	62.96
MACD (12,26,9):	-0.0100
Directional Movement:	14.26
AROON (14):	28.57
DEMA (21):	35.40
Parabolic SAR (0,02-0,02-0,2):	34.32
Elder Ray (13):	0.95
Super Trend (3,10):	34.77
Zig ZAG (10):	36.64
VORTEX (21):	1.0000
Stochastique (14,3,5):	95.16
TEMA (21):	35.59
Williams %R (14):	-3.83
Chande Momentum Oscillator (20):	1.57
Repulse (5,40,3):	3.1300
ROCnROLL:	1
TRIX (15,9):	-0.1400
Courbe Coppock:	3.91

MA7:	35.58
MA20:	35.15
MA50:	36.25
MA100:	35.37
MAexp7:	35.86
MAexp20:	35.55
MAexp50:	35.66
MAexp100:	34.95
Price / MA7:	+2.98%
Price / MA20:	+4.24%
Price / MA50:	+1.08%
Price / MA100:	+3.59%
Price / MAexp7:	+2.18%
Price / MAexp20:	+3.07%
Price / MAexp50:	+2.75%
Price / MAexp100:	+4.84%

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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