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 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

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:
15 min. 1H Weekly

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.

Central Gaps

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:
The study of the highest / lowest by the Central Records scanner shows the following result:

Central Records

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:

Central Patterns

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:

Central Candlesticks

Doji

Type : Neutral

Timeframe : Daily




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
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
Standard34.6534.8735.1635.3835.6735.8936.18
Camarilla35.3135.3635.4035.4535.5035.5435.59
Woodie34.6934.8935.2035.4035.7135.9136.22
Fibonacci34.8735.0735.1935.3835.5835.7035.89


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard34.6434.9635.2435.5635.8436.1636.44
Camarilla35.3535.4035.4635.5135.5735.6235.68
Woodie34.6134.9535.2135.5535.8136.1536.41
Fibonacci34.9635.1935.3335.5635.7935.9336.16


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard31.0032.3433.9335.2736.8638.2039.79
Camarilla34.7034.9735.2435.5135.7836.0536.32
Woodie31.1232.4034.0535.3336.9838.2639.91
Fibonacci32.3433.4634.1535.2736.3937.0838.20

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

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

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