ARGAN - 1H - Technical analysis published on 04/12/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
28%
22%
50%
My opinion
Bearish under 70.8 EUR
My targets
66.0 EUR (-2.51%)
62.1 EUR (-8.27%)
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 ARGAN. As long as you are under the resistance located at 70.8 EUR, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 66.0 EUR would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 62.1 EUR as an objective. Crossing it would then enable sellers to target 56.6 EUR. If the resistance 70.8 EUR were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
2.3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
ARGAN rating 67.7 EUR. On the day, this instrument lost -0.15% and was traded between 67.2 EUR and 68.0 EUR over the period. The price is currently at +0.74% from its lowest and -0.44% from its highest.67.2
68.0
67.7
A study of price movements over other periods shows the following variations:
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
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this 1H chart of ARGAN indicates that the overall trend is bearish. The signals given by moving averages are 67.86% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
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 | 50.1 | 56.6 | 66.0 | 67.7 | 70.8 | 72.9 | 76.3 |
| Change (%) | -26.00% | -16.40% | -2.51% | - | +4.58% | +7.68% | +12.70% |
| Change | -17.6 | -11.1 | -1.7 | - | +3.1 | +5.2 | +8.6 |
| Level | Intermediate | Minor | Major | - | Minor | Major | 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 |
|---|---|---|---|---|---|---|---|
| Standard | 65.3 | 66.1 | 67.0 | 67.8 | 68.7 | 69.5 | 70.4 |
| Camarilla | 67.3 | 67.5 | 67.6 | 67.8 | 68.0 | 68.1 | 68.3 |
| Woodie | 65.3 | 66.1 | 67.0 | 67.8 | 68.7 | 69.5 | 70.4 |
| Fibonacci | 66.1 | 66.8 | 67.2 | 67.8 | 68.5 | 68.9 | 69.5 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 62.1 | 64.4 | 66.2 | 68.5 | 70.3 | 72.6 | 74.4 |
| Camarilla | 66.9 | 67.3 | 67.6 | 68.0 | 68.4 | 68.8 | 69.1 |
| Woodie | 61.9 | 64.3 | 66.0 | 68.4 | 70.1 | 72.5 | 74.2 |
| Fibonacci | 64.4 | 66.0 | 66.9 | 68.5 | 70.1 | 71.0 | 72.6 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 41.4 | 53.3 | 61.1 | 73.0 | 80.8 | 92.7 | 100.5 |
| Camarilla | 63.5 | 65.3 | 67.1 | 68.9 | 70.7 | 72.5 | 74.3 |
| Woodie | 39.4 | 52.3 | 59.1 | 72.0 | 78.8 | 91.7 | 98.5 |
| Fibonacci | 53.3 | 60.8 | 65.5 | 73.0 | 80.5 | 85.2 | 92.7 |
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): | 49.10 | |
| MACD (12,26,9): | -0.1000 | |
| Directional Movement: | -0.2 | |
| AROON (14): | -21.5 | |
| DEMA (21): | 67.5 | |
| Parabolic SAR (0,02-0,02-0,2): | 68.2 | |
| Elder Ray (13): | 0 | |
| Super Trend (3,10): | 68.5 | |
| Zig ZAG (10): | 67.7 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 31.40 | |
| TEMA (21): | 67.5 | |
| Williams %R (14): | -58.80 | |
| Chande Momentum Oscillator (20): | -0.3 | |
| Repulse (5,40,3): | -0.1000 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.20 |
| MA7: | 68.3 | |
| MA20: | 70.2 | |
| MA50: | 75.2 | |
| MA100: | 75.0 | |
| MAexp7: | 67.6 | |
| MAexp20: | 67.7 | |
| MAexp50: | 68.0 | |
| MAexp100: | 68.8 | |
| Price / MA7: | -0.88% | |
| Price / MA20: | -3.56% | |
| Price / MA50: | -9.97% | |
| Price / MA100: | -9.73% | |
| Price / MAexp7: | +0.15% | |
| Price / MAexp20: | -0% | |
| Price / MAexp50: | -0.44% | |
| Price / MAexp100: | -1.60% |
Quotes :
-
15 min delayed data
-
Euronext Paris
News
The last news published on ARGAN at the time of the generation of this analysis was as follows:
- Argan, Inc. to Announce Fourth Quarter and Fiscal Year-End 2023 Results and Host Conference Call on Wednesday, April 12, 2023
- ARGAN : 11% growth in rental income to €45m in Q1 2023
- ARGAN : Increase in resources of the liquidity contract contracted with Natixis Oddo BHF
- ARGAN : Yes, old warehouses have a future, here is the proof
- ARGAN expands its Albon logistics project to 31,000 m² with the delivery of an 18,000 m² extension
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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