NEXANS - Daily - Technical analysis published on 07/31/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
44%
17%
39%
My opinion
Bullish above 77.46 EUR
My targets
81.66 EUR (+1.88%)
85.19 EUR (+6.29%)
My analysis
NEXANS 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 77.46 EUR. The next resistance located at 81.66 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 85.19 EUR. After this resistance, buyers could then target 88.83 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
4.5
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Additional analysis
Quotes
The NEXANS price is 80.15 EUR. On the day, this instrument lost -0.06% and was traded between 79.80 EUR and 80.50 EUR over the period. The price is currently at +0.44% from its lowest and -0.43% from its highest.79.80
80.50
80.15
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by NEXANS:
Technical
Technical analysis of NEXANS in Daily shows an overall 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 scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators shows a slightly bullish signal.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of triangle
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 70.67 | 74.35 | 77.46 | 80.15 | 81.66 | 85.19 | 88.83 |
Change (%) | -11.83% | -7.24% | -3.36% | - | +1.88% | +6.29% | +10.83% |
Change | -9.48 | -5.80 | -2.69 | - | +1.51 | +5.04 | +8.68 |
Level | Major | Minor | Major | - | Major | Intermediate | 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 | 77.97 | 78.53 | 79.37 | 79.93 | 80.77 | 81.33 | 82.17 |
Camarilla | 79.82 | 79.94 | 80.07 | 80.20 | 80.33 | 80.46 | 80.59 |
Woodie | 78.10 | 78.60 | 79.50 | 80.00 | 80.90 | 81.40 | 82.30 |
Fibonacci | 78.53 | 79.07 | 79.40 | 79.93 | 80.47 | 80.80 | 81.33 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 69.05 | 73.10 | 76.65 | 80.70 | 84.25 | 88.30 | 91.85 |
Camarilla | 78.11 | 78.81 | 79.50 | 80.20 | 80.90 | 81.59 | 82.29 |
Woodie | 68.80 | 72.98 | 76.40 | 80.58 | 84.00 | 88.18 | 91.60 |
Fibonacci | 73.10 | 76.00 | 77.80 | 80.70 | 83.60 | 85.40 | 88.30 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 61.48 | 66.62 | 72.98 | 78.12 | 84.48 | 89.62 | 95.98 |
Camarilla | 76.19 | 77.24 | 78.30 | 79.35 | 80.40 | 81.46 | 82.51 |
Woodie | 62.10 | 66.93 | 73.60 | 78.43 | 85.10 | 89.93 | 96.60 |
Fibonacci | 66.62 | 71.01 | 73.72 | 78.12 | 82.51 | 85.22 | 89.62 |
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): | 53.57 | |
MACD (12,26,9): | 0.7400 | |
Directional Movement: | 15.76 | |
AROON (14): | 50.00 | |
DEMA (21): | 80.37 | |
Parabolic SAR (0,02-0,02-0,2): | 84.60 | |
Elder Ray (13): | 0.37 | |
Super Trend (3,10): | 75.87 | |
Zig ZAG (10): | 80.15 | |
VORTEX (21): | 0.9400 | |
Stochastique (14,3,5): | 42.67 | |
TEMA (21): | 80.70 | |
Williams %R (14): | -58.60 | |
Chande Momentum Oscillator (20): | 1.45 | |
Repulse (5,40,3): | -0.3600 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.1500 | |
Courbe Coppock: | 5.73 |
MA7: | 80.26 | |
MA20: | 79.21 | |
MA50: | 77.45 | |
MA100: | 79.41 | |
MAexp7: | 80.07 | |
MAexp20: | 79.39 | |
MAexp50: | 78.74 | |
MAexp100: | 80.14 | |
Price / MA7: | -0.14% | |
Price / MA20: | +1.19% | |
Price / MA50: | +3.49% | |
Price / MA100: | +0.93% | |
Price / MAexp7: | +0.10% | |
Price / MAexp20: | +0.96% | |
Price / MAexp50: | +1.79% | |
Price / MAexp100: | +0.01% |
Quotes :
-
15 min delayed data
-
Euronext Paris
News
Don't forget to follow the news on NEXANS. At the time of publication of this analysis, the latest news was as follows:
- Availability of the 2023 half-year financial report
- SOLID H1 2023 PERFORMANCE DRIVING GUIDANCE UPGRADE
- Nexans to build third generation cable laying vessel to drive global energy transition
- Nexans welcomes Pascal Radue as Executive Vice President Generation & Transmission and member of the Executive Committee
- Nexans wins record-breaking contract for the EuroAsia Interconnector
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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