BEFESA S.A. ORD. O.N. - Daily - Technical analysis published on 12/04/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Bullish
De fond:
Strongly bullish
Technical indicators
44%
11%
44%
My opinion
Bullish above 34.05 EUR
My targets
36.08 EUR (+3.68%)
38.51 EUR (+10.66%)
My analysis
The basic bullish trend is very strong on BEFESA S.A. ORD. O.N. but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 34.05 EUR. Crossing the first resistance at 36.08 EUR would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 38.51 EUR as an objective. Crossing it would then enable buyers to target 40.20 EUR. Caution, a return to below 34.05 EUR would be a sign of a consolidation phase in the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
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
6.1
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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
BEFESA S.A. ORD. O.N. rating 34.80 EUR. The price registered an increase of +4.51% on the session with the lowest point at 33.20 EUR and the highest point at 34.85 EUR. The deviation from the price is +4.82% for the low point and -0.14% for the high point.33.20
34.85
34.80
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of BEFESA S.A. ORD. O.N. in Daily shows a strongly overall bullish trend. The signals given by moving averages are 85.71% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 50
Type : Bearish
Timeframe : Daily
In fact, only 8 technical indicators out of 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Daily
MACD indicator is back under 0
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near resistance of triangle
Type : Bearish
Timeframe : Daily
Horizontal resistance is broken
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 | 31.49 | 32.73 | 34.05 | 34.80 | 36.08 | 38.51 | 40.20 |
| Change (%) | -9.51% | -5.95% | -2.16% | - | +3.68% | +10.66% | +15.52% |
| Change | -3.31 | -2.07 | -0.75 | - | +1.28 | +3.71 | +5.40 |
| Level | Minor | Intermediate | Intermediate | - | Intermediate | 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 | 31.92 | 32.43 | 32.87 | 33.38 | 33.82 | 34.33 | 34.77 |
| Camarilla | 33.04 | 33.13 | 33.21 | 33.30 | 33.39 | 33.47 | 33.56 |
| Woodie | 31.88 | 32.41 | 32.83 | 33.36 | 33.78 | 34.31 | 34.73 |
| Fibonacci | 32.43 | 32.80 | 33.02 | 33.38 | 33.75 | 33.97 | 34.33 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 31.28 | 32.67 | 33.53 | 34.92 | 35.78 | 37.17 | 38.03 |
| Camarilla | 33.78 | 33.99 | 34.19 | 34.40 | 34.61 | 34.81 | 35.02 |
| Woodie | 31.03 | 32.54 | 33.28 | 34.79 | 35.53 | 37.04 | 37.78 |
| Fibonacci | 32.67 | 33.53 | 34.06 | 34.92 | 35.78 | 36.31 | 37.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 27.78 | 29.97 | 32.18 | 34.37 | 36.58 | 38.77 | 40.98 |
| Camarilla | 33.19 | 33.59 | 34.00 | 34.40 | 34.80 | 35.21 | 35.61 |
| Woodie | 27.80 | 29.98 | 32.20 | 34.38 | 36.60 | 38.78 | 41.00 |
| Fibonacci | 29.97 | 31.65 | 32.69 | 34.37 | 36.05 | 37.09 | 38.77 |
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): | 51.50 | |
| MACD (12,26,9): | 0.0100 | |
| Directional Movement: | -4.88 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 34.87 | |
| Parabolic SAR (0,02-0,02-0,2): | 35.50 | |
| Elder Ray (13): | -0.61 | |
| Super Trend (3,10): | 33.26 | |
| Zig ZAG (10): | 34.80 | |
| VORTEX (21): | 0.9100 | |
| Stochastique (14,3,5): | 23.04 | |
| TEMA (21): | 34.34 | |
| Williams %R (14): | -44.78 | |
| Chande Momentum Oscillator (20): | -0.80 | |
| Repulse (5,40,3): | 2.4100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1400 | |
| Courbe Coppock: | 8.38 |
| MA7: | 34.24 | |
| MA20: | 35.31 | |
| MA50: | 33.85 | |
| MA100: | 32.34 | |
| MAexp7: | 34.37 | |
| MAexp20: | 34.68 | |
| MAexp50: | 34.06 | |
| MAexp100: | 33.71 | |
| Price / MA7: | +1.64% | |
| Price / MA20: | -1.44% | |
| Price / MA50: | +2.81% | |
| Price / MA100: | +7.61% | |
| Price / MAexp7: | +1.25% | |
| Price / MAexp20: | +0.35% | |
| Price / MAexp50: | +2.17% | |
| Price / MAexp100: | +3.23% |
News
Don"t forget to follow the news on BEFESA S.A. ORD. O.N.. At the time of publication of this analysis, the latest news was as follows:
- DGAP-News: Befesa commences construction of second recycling plant in China as planned
- DGAP-News: Befesa continues growth plans despite earnings affected by weak metal prices
- DGAP-News: Befesa resumes operations in Turkey following expansion - China and South Korea growth projects progressing as planned
- DGAP-News: Befesa S.A.: Befesa slows H1 performance due to capacity upgrade in Turkey and lower price environment, while continuing its global expansion
- DGAP-News: Befesa S.A.: AGM on 19 June 2019
This member declared not having a position on this financial instrument or a related financial instrument.
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