NEXANS - 1H - Technical analysis published on 02/13/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
22%
39%
39%
My opinion
Bullish above 86.00 EUR
My targets
88.83 EUR (+1.29%)
91.00 EUR (+3.76%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on NEXANS. As long as you are above the support located at 86.00 EUR, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 88.83 EUR would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 91.00 EUR as an objective. Crossing it would then enable buyers to target 98.57 EUR. If the support 86.00 EUR were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
3.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NEXANS price is 87.70 EUR. The price registered a decrease of -0.17% on the session with the lowest point at 87.60 EUR and the highest point at 88.65 EUR. The deviation from the price is +0.11% for the low point and -1.07% for the high point.87.60
88.65
87.70
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
A study of price movements over other periods shows the following variations:
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 this 1H chart of NEXANS indicates that the overall trend is bullish. The signals given by moving averages are 78.57% bullish. This bullish trend could slow down given the neutral 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.
On the 18 technical indicators analysed, 4 are bullish, 7 are neutral and 7 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
SuperTrend indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near support of channel
Type : Bullish
Timeframe : 1 hour
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 | 83.24 | 84.96 | 86.00 | 87.70 | 88.83 | 91.00 | 98.57 |
| Change (%) | -5.09% | -3.12% | -1.94% | - | +1.29% | +3.76% | +12.39% |
| Change | -4.46 | -2.74 | -1.70 | - | +1.13 | +3.30 | +10.87 |
| Level | Intermediate | Intermediate | Major | - | Intermediate | 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 | 83.15 | 85.35 | 86.60 | 88.80 | 90.05 | 92.25 | 93.50 |
| Camarilla | 86.90 | 87.22 | 87.53 | 87.85 | 88.17 | 88.48 | 88.80 |
| Woodie | 82.68 | 85.11 | 86.13 | 88.56 | 89.58 | 92.01 | 93.03 |
| Fibonacci | 85.35 | 86.67 | 87.48 | 88.80 | 90.12 | 90.93 | 92.25 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 77.00 | 79.65 | 84.95 | 87.60 | 92.90 | 95.55 | 100.85 |
| Camarilla | 88.06 | 88.79 | 89.52 | 90.25 | 90.98 | 91.71 | 92.44 |
| Woodie | 78.33 | 80.31 | 86.28 | 88.26 | 94.23 | 96.21 | 102.18 |
| Fibonacci | 79.65 | 82.69 | 84.56 | 87.60 | 90.64 | 92.51 | 95.55 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 60.67 | 66.38 | 75.57 | 81.28 | 90.47 | 96.18 | 105.37 |
| Camarilla | 80.65 | 82.02 | 83.38 | 84.75 | 86.12 | 87.48 | 88.85 |
| Woodie | 62.40 | 67.25 | 77.30 | 82.15 | 92.20 | 97.05 | 107.10 |
| Fibonacci | 66.38 | 72.08 | 75.59 | 81.28 | 86.98 | 90.49 | 96.18 |
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): | 54.89 | |
| MACD (12,26,9): | 0.4000 | |
| Directional Movement: | 16.18 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 88.55 | |
| Parabolic SAR (0,02-0,02-0,2): | 89.25 | |
| Elder Ray (13): | -0.10 | |
| Super Trend (3,10): | 87.80 | |
| Zig ZAG (10): | 87.70 | |
| VORTEX (21): | 1.1200 | |
| Stochastique (14,3,5): | 8.55 | |
| TEMA (21): | 88.20 | |
| Williams %R (14): | -93.18 | |
| Chande Momentum Oscillator (20): | -1.20 | |
| Repulse (5,40,3): | -0.5600 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.1200 | |
| Courbe Coppock: | 2.38 |
| MA7: | 86.11 | |
| MA20: | 85.10 | |
| MA50: | 80.33 | |
| MA100: | 75.06 | |
| MAexp7: | 87.90 | |
| MAexp20: | 87.87 | |
| MAexp50: | 86.78 | |
| MAexp100: | 85.74 | |
| Price / MA7: | +1.85% | |
| Price / MA20: | +3.06% | |
| Price / MA50: | +9.17% | |
| Price / MA100: | +16.84% | |
| Price / MAexp7: | -0.23% | |
| Price / MAexp20: | -0.19% | |
| Price / MAexp50: | +1.06% | |
| Price / MAexp100: | +2.29% |
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 achieves outstanding ‘A’ score from CDP
- Nexans awarded major contract by leading power utility to support energy transition in Italy
- Information on French Competition Authority investigation
- Information on share capital and voting rights - October 2023
- Information on share capital and voting rights - September 2023
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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