NEXANS - Daily - Technical analysis published on 09/27/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
50%
22%
My opinion
Bearish under 76.78 EUR
My targets
70.67 EUR (-4.18%)
61.82 EUR (-16.18%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on NEXANS as long as the price remains well below 76.78 EUR. The sellers' bearish objective is set at 70.67 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 61.82 EUR. In case of crossing, the next objective would be the support located at 55.40 EUR. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NEXANS price is 73.75 EUR. On the day, this instrument gained +3.08% and was between 71.35 EUR and 73.85 EUR. This implies that the price is at +3.36% from its lowest and at -0.14% from its highest.71.35
73.85
73.75
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
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 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this NEXANS chart shows a sharp bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being 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 does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : Daily
RSI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Daily
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 47.05 | 55.40 | 70.67 | 73.75 | 76.78 | 83.18 | 88.83 |
| Change (%) | -36.20% | -24.88% | -4.18% | - | +4.11% | +12.79% | +20.45% |
| Change | -26.70 | -18.35 | -3.08 | - | +3.03 | +9.43 | +15.08 |
| Level | Minor | Major | Major | - | Intermediate | Intermediate | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 69.75 | 70.65 | 71.10 | 72.00 | 72.45 | 73.35 | 73.80 |
| Camarilla | 71.18 | 71.30 | 71.43 | 71.55 | 71.67 | 71.80 | 71.92 |
| Woodie | 69.53 | 70.54 | 70.88 | 71.89 | 72.23 | 73.24 | 73.58 |
| Fibonacci | 70.65 | 71.17 | 71.48 | 72.00 | 72.52 | 72.83 | 73.35 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 66.35 | 70.00 | 72.20 | 75.85 | 78.05 | 81.70 | 83.90 |
| Camarilla | 72.79 | 73.33 | 73.86 | 74.40 | 74.94 | 75.47 | 76.01 |
| Woodie | 65.63 | 69.64 | 71.48 | 75.49 | 77.33 | 81.34 | 83.18 |
| Fibonacci | 70.00 | 72.24 | 73.62 | 75.85 | 78.09 | 79.47 | 81.70 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 61.82 | 66.68 | 71.37 | 76.23 | 80.92 | 85.78 | 90.47 |
| Camarilla | 73.42 | 74.30 | 75.18 | 76.05 | 76.93 | 77.80 | 78.68 |
| Woodie | 61.73 | 66.64 | 71.28 | 76.19 | 80.83 | 85.74 | 90.38 |
| Fibonacci | 66.68 | 70.33 | 72.59 | 76.23 | 79.88 | 82.14 | 85.78 |
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): | 47.02 | |
| MACD (12,26,9): | -0.5300 | |
| Directional Movement: | -4.83 | |
| AROON (14): | 35.72 | |
| DEMA (21): | 73.76 | |
| Parabolic SAR (0,02-0,02-0,2): | 79.34 | |
| Elder Ray (13): | -1.65 | |
| Super Trend (3,10): | 78.06 | |
| Zig ZAG (10): | 73.65 | |
| VORTEX (21): | 0.8500 | |
| Stochastique (14,3,5): | 29.43 | |
| TEMA (21): | 73.84 | |
| Williams %R (14): | -61.70 | |
| Chande Momentum Oscillator (20): | 1.50 | |
| Repulse (5,40,3): | 0.8600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1000 | |
| Courbe Coppock: | 0.84 |
| MA7: | 74.74 | |
| MA20: | 74.34 | |
| MA50: | 76.29 | |
| MA100: | 76.56 | |
| MAexp7: | 73.91 | |
| MAexp20: | 74.53 | |
| MAexp50: | 75.64 | |
| MAexp100: | 77.26 | |
| Price / MA7: | -1.32% | |
| Price / MA20: | -0.79% | |
| Price / MA50: | -3.33% | |
| Price / MA100: | -3.67% | |
| Price / MAexp7: | -0.22% | |
| Price / MAexp20: | -1.05% | |
| Price / MAexp50: | -2.50% | |
| Price / MAexp100: | -4.54% |
Quotes :
-
15 min delayed data
-
Euronext Paris
News
The last news published on NEXANS at the time of the generation of this analysis was as follows:
- Nexans awarded Copper Mark label for responsible copper production
- Information on share capital and voting rights - August 2023
- Information on share capital and voting rights - July 2023
- Availability of the 2023 half-year financial report
- SOLID H1 2023 PERFORMANCE DRIVING GUIDANCE UPGRADE
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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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