MICHELIN - Daily - Technical analysis published on 09/03/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
56%
0%
44%
My opinion
Bullish above 34.41 EUR
My targets
36.60 EUR (+3.30%)
37.50 EUR (+5.84%)
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 36.60 EUR is the next bullish target to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 37.50 EUR. After this resistance, buyers could then target 38.37 EUR.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
5.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
MICHELIN rating 35.43 EUR. The price registered a decrease of -0.06% on the session with the lowest point at 35.33 EUR and the highest point at 35.51 EUR. The deviation from the price is +0.28% for the low point and -0.23% for the high point.35.33
35.51
35.43
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
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:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this MICHELIN chart shows a bullish trend. 67.86% of the signals given by moving averages are bullish. This bullish trend is supported 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.
In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bullish. No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near resistance of channel
Type : Bearish
Timeframe : Daily
Near resistance of triangle
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 31.44 | 33.20 | 34.41 | 35.43 | 35.70 | 36.60 | 37.50 |
Change (%) | -11.26% | -6.29% | -2.88% | - | +0.76% | +3.30% | +5.84% |
Change | -3.99 | -2.23 | -1.02 | - | +0.27 | +1.17 | +2.07 |
Level | Minor | Intermediate | 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 | 34.65 | 34.87 | 35.16 | 35.38 | 35.67 | 35.89 | 36.18 |
Camarilla | 35.31 | 35.36 | 35.40 | 35.45 | 35.50 | 35.54 | 35.59 |
Woodie | 34.69 | 34.89 | 35.20 | 35.40 | 35.71 | 35.91 | 36.22 |
Fibonacci | 34.87 | 35.07 | 35.19 | 35.38 | 35.58 | 35.70 | 35.89 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 34.64 | 34.96 | 35.24 | 35.56 | 35.84 | 36.16 | 36.44 |
Camarilla | 35.35 | 35.40 | 35.46 | 35.51 | 35.57 | 35.62 | 35.68 |
Woodie | 34.61 | 34.95 | 35.21 | 35.55 | 35.81 | 36.15 | 36.41 |
Fibonacci | 34.96 | 35.19 | 35.33 | 35.56 | 35.79 | 35.93 | 36.16 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 31.00 | 32.34 | 33.93 | 35.27 | 36.86 | 38.20 | 39.79 |
Camarilla | 34.70 | 34.97 | 35.24 | 35.51 | 35.78 | 36.05 | 36.32 |
Woodie | 31.12 | 32.40 | 34.05 | 35.33 | 36.98 | 38.26 | 39.91 |
Fibonacci | 32.34 | 33.46 | 34.15 | 35.27 | 36.39 | 37.08 | 38.20 |
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): | 53.50 | |
MACD (12,26,9): | 0.0900 | |
Directional Movement: | 0.14 | |
AROON (14): | 57.14 | |
DEMA (21): | 35.30 | |
Parabolic SAR (0,02-0,02-0,2): | 34.69 | |
Elder Ray (13): | 0.11 | |
Super Trend (3,10): | 35.86 | |
Zig ZAG (10): | 35.42 | |
VORTEX (21): | 1.0900 | |
Stochastique (14,3,5): | 73.66 | |
TEMA (21): | 35.52 | |
Williams %R (14): | -34.06 | |
Chande Momentum Oscillator (20): | 0.64 | |
Repulse (5,40,3): | -0.0400 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0000 | |
Courbe Coppock: | 5.86 |
MA7: | 35.46 | |
MA20: | 34.98 | |
MA50: | 35.18 | |
MA100: | 35.67 | |
MAexp7: | 35.41 | |
MAexp20: | 35.25 | |
MAexp50: | 35.31 | |
MAexp100: | 34.99 | |
Price / MA7: | -0.08% | |
Price / MA20: | +1.29% | |
Price / MA50: | +0.71% | |
Price / MA100: | -0.67% | |
Price / MAexp7: | +0.06% | |
Price / MAexp20: | +0.51% | |
Price / MAexp50: | +0.34% | |
Price / MAexp100: | +1.26% |
Quotes :
-
15 min delayed data
-
Euronext Paris
News
The latest news and videos published on MICHELIN at the time of the analysis were as follows:
- ChainFEST Returns to Los Angeles: A Gourmet Food Festival Featuring Michelin Chef Collabs With America’s Favorite Chains
- Michelin : Disclosure of trading in own shares - August 19, 2024
- Sushi Ginza Onodera’s Restaurant 'Sushi Ginza Onodera Los Angeles' Awarded Michelin Stars for Five Consecutive Times
- Michelin : Disclosure of trading in own shares - August 7, 2024
- Michelin: availability of the half-year financial report as of 30 june 2024
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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