NEXANS - Daily - Technical analysis published on 02/04/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
56%
22%
22%
My opinion
Bullish above 44.00 EUR
My targets
48.33 EUR (+4.88%)
51.62 EUR (+12.02%)
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 44.00 EUR. The next resistance located at 48.33 EUR is the next bullish objective 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 51.62 EUR. After this resistance, buyers could then target 56.72 EUR. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
FORCE
0
10
7.1
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NEXANS price is 46.08 EUR. On the day, this instrument gained +1.03% and was traded between 45.70 EUR and 46.29 EUR over the period. The price is currently at +0.83% from its lowest and -0.45% from its highest.45.70
46.29
46.08
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by NEXANS:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this NEXANS chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Daily
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.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
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 | 35.34 | 37.36 | 44.00 | 46.08 | 48.33 | 51.62 | 56.72 |
| Change (%) | -23.31% | -18.92% | -4.51% | - | +4.88% | +12.02% | +23.09% |
| Change | -10.74 | -8.72 | -2.08 | - | +2.25 | +5.54 | +10.64 |
| Level | Minor | Intermediate | Major | - | Major | Minor | Intermediate |
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 | 42.81 | 43.49 | 44.55 | 45.23 | 46.29 | 46.97 | 48.03 |
| Camarilla | 45.13 | 45.29 | 45.45 | 45.61 | 45.77 | 45.93 | 46.09 |
| Woodie | 43.00 | 43.59 | 44.74 | 45.33 | 46.48 | 47.07 | 48.22 |
| Fibonacci | 43.49 | 44.16 | 44.57 | 45.23 | 45.90 | 46.31 | 46.97 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 41.83 | 42.62 | 43.32 | 44.11 | 44.81 | 45.60 | 46.30 |
| Camarilla | 43.62 | 43.76 | 43.89 | 44.03 | 44.17 | 44.30 | 44.44 |
| Woodie | 41.80 | 42.60 | 43.29 | 44.09 | 44.78 | 45.58 | 46.27 |
| Fibonacci | 42.62 | 43.19 | 43.54 | 44.11 | 44.68 | 45.03 | 45.60 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 37.76 | 40.30 | 42.16 | 44.70 | 46.56 | 49.10 | 50.96 |
| Camarilla | 42.82 | 43.22 | 43.63 | 44.03 | 44.43 | 44.84 | 45.24 |
| Woodie | 37.43 | 40.13 | 41.83 | 44.53 | 46.23 | 48.93 | 50.63 |
| Fibonacci | 40.30 | 41.98 | 43.02 | 44.70 | 46.38 | 47.42 | 49.10 |
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): | 62.47 | |
| MACD (12,26,9): | 0.7800 | |
| Directional Movement: | 17.38 | |
| AROON (14): | 7.15 | |
| DEMA (21): | 45.51 | |
| Parabolic SAR (0,02-0,02-0,2): | 47.00 | |
| Elder Ray (13): | 1.21 | |
| Super Trend (3,10): | 43.01 | |
| Zig ZAG (10): | 45.96 | |
| VORTEX (21): | 1.0200 | |
| Stochastique (14,3,5): | 54.37 | |
| TEMA (21): | 45.15 | |
| Williams %R (14): | -23.92 | |
| Chande Momentum Oscillator (20): | -0.05 | |
| Repulse (5,40,3): | 4.2100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.3000 | |
| Courbe Coppock: | 3.86 |
| MA7: | 44.56 | |
| MA20: | 44.48 | |
| MA50: | 42.04 | |
| MA100: | 38.40 | |
| MAexp7: | 45.01 | |
| MAexp20: | 44.35 | |
| MAexp50: | 42.21 | |
| MAexp100: | 39.14 | |
| Price / MA7: | +3.41% | |
| Price / MA20: | +3.60% | |
| Price / MA50: | +9.61% | |
| Price / MA100: | +20.00% | |
| Price / MAexp7: | +2.38% | |
| Price / MAexp20: | +3.90% | |
| Price / MAexp50: | +9.17% | |
| Price / MAexp100: | +17.73% |
News
The latest news and videos published on NEXANS at the time of the analysis were as follows:
- Nexans : Information on share capital and voting rights - January 2020
- Nexans, Eversource and Ørsted sign Framework Agreement for North American Offshore Wind Farm development with the opportunity to provide up to 1,000 kilometers of export cable for multiple Ørsted projects till 2027 in United States
- Nexans contributes to France’s energy transition by connecting Saint Brieuc offshore wind farm
- Nexans wins 5-year contract extension to supply cables for the world’s leading ship builder Chantiers de l'Atlantique
- Nexans : 2019 THIRD QUARTER FINANCIAL INFORMATION
This member declared not having a position on this financial instrument or a related financial instrument.
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