SAIPEM - 1H - Technical analysis published on 03/25/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 2.0587 EUR
My targets
2.2293 EUR (+5.11%)
2.3139 EUR (+9.09%)
My analysis
The bullish trend is currently very strong on SAIPEM. As long as the price remains above the support at 2.0587 EUR, you could try to benefit from the boom. The first bullish objective is located at 2.2293 EUR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 2.3139 EUR as an objective. Crossing it would then enable buyers to target 3.4330 EUR. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8
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Additional analysis
Quotes
The SAIPEM price is 2.1210 EUR. The price has increased by +4.74% since the last closing and was between 2.0110 EUR and 2.1350 EUR. This implies that the price is at +5.47% from its lowest and at -0.66% from its highest.2.0110
2.1350
2.1210
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
Here is a more detailed summary of the historical variations registered by SAIPEM:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
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 SAIPEM indicates that the overall trend is strongly bullish. 89.29% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Near resistance of channel
Type : Bearish
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 | 1.8857 | 1.9661 | 2.1120 | 2.1210 | 2.3139 | 3.4330 | 5.6759 |
| Change (%) | -11.09% | -7.30% | -0.42% | - | +9.09% | +61.86% | +167.60% |
| Change | -0.2353 | -0.1549 | -0.0090 | - | +0.1929 | +1.3120 | +3.5549 |
| Level | Intermediate | Major | Major | - | Minor | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.9317 | 1.9723 | 1.9987 | 2.0393 | 2.0657 | 2.1063 | 2.1327 |
| Camarilla | 2.0066 | 2.0127 | 2.0189 | 2.0250 | 2.0311 | 2.0373 | 2.0434 |
| Woodie | 1.9245 | 1.9688 | 1.9915 | 2.0358 | 2.0585 | 2.1028 | 2.1255 |
| Fibonacci | 1.9723 | 1.9979 | 2.0137 | 2.0393 | 2.0649 | 2.0807 | 2.1063 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.8543 | 1.9337 | 1.9793 | 2.0587 | 2.1043 | 2.1837 | 2.2293 |
| Camarilla | 1.9906 | 2.0021 | 2.0135 | 2.0250 | 2.0365 | 2.0479 | 2.0594 |
| Woodie | 1.8375 | 1.9253 | 1.9625 | 2.0503 | 2.0875 | 2.1753 | 2.2125 |
| Fibonacci | 1.9337 | 1.9814 | 2.0109 | 2.0587 | 2.1064 | 2.1359 | 2.1837 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.9410 | 1.0940 | 1.3875 | 1.5405 | 1.8340 | 1.9870 | 2.2805 |
| Camarilla | 1.5582 | 1.5991 | 1.6401 | 1.6810 | 1.7219 | 1.7629 | 1.8038 |
| Woodie | 1.0113 | 1.1291 | 1.4578 | 1.5756 | 1.9043 | 2.0221 | 2.3508 |
| Fibonacci | 1.0940 | 1.2646 | 1.3699 | 1.5405 | 1.7111 | 1.8164 | 1.9870 |
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): | 62.12 | |
| MACD (12,26,9): | 0.0043 | |
| Directional Movement: | 17.5950 | |
| AROON (14): | 21.4285 | |
| DEMA (21): | 2.0819 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.0183 | |
| Elder Ray (13): | 0.0304 | |
| Super Trend (3,10): | 2.0521 | |
| Zig ZAG (10): | 2.1170 | |
| VORTEX (21): | 1.0484 | |
| Stochastique (14,3,5): | 86.27 | |
| TEMA (21): | 2.0881 | |
| Williams %R (14): | -15.32 | |
| Chande Momentum Oscillator (20): | 0.0560 | |
| Repulse (5,40,3): | 1.3806 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0425 | |
| Courbe Coppock: | 1.34 |
| MA7: | 2.0893 | |
| MA20: | 1.9461 | |
| MA50: | 1.6096 | |
| MA100: | 1.5296 | |
| MAexp7: | 2.0944 | |
| MAexp20: | 2.0801 | |
| MAexp50: | 2.0750 | |
| MAexp100: | 2.0291 | |
| Price / MA7: | +1.52% | |
| Price / MA20: | +8.99% | |
| Price / MA50: | +31.77% | |
| Price / MA100: | +38.66% | |
| Price / MAexp7: | +1.27% | |
| Price / MAexp20: | +1.97% | |
| Price / MAexp50: | +2.22% | |
| Price / MAexp100: | +4.53% |
Quotes :
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15 min delayed data
-
Italy Stocks
News
The last news published on SAIPEM at the time of the generation of this analysis was as follows:
SaipemThis 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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