OMX COPENHAGEN 20 - 1H - Technical analysis published on 01/30/2023 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 1,835.54 DKK
My targets
1,859.45 DKK (+0.46%)
1,880.43 DKK (+1.59%)
My analysis
OMX COPENHAGEN 20 is currently trying to strengthen its basic trend with a very bullish short term. As long as the price remains above 1,835.54 DKK, traders may consider taking advantage of this bullish acceleration and setting themselves to trade only long positions (at the time of purchase). Buyers will encounter the resistance at 1,859.45 DKK. A bullish break in this resistance would confirm a continuation of the bullish acceleration. The next resistance located at 1,880.43 DKK would then be the next bullish objective for buyers. Crossing it would then enable buyers to target 1,891.93 DKK. Beware of a possible return to under the support located at 1,835.54 DKK which would be the sign of a correction of the bullish excesses registered in the short term.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
5.5
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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 OMX COPENHAGEN 20 price is 1,850.94 DKK. The price has increased by +0.98% since the last closing and was traded between 1,823.08 DKK and 1,851.33 DKK over the period. The price is currently at +1.53% from its lowest and -0.02% from its highest.1,823.08
1,851.33
1,850.94
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
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
A technical analysis in 1H of this OMX COPENHAGEN 20 chart shows a slightly bullish trend. Only 60.71% of the signals given by moving averages are bullish. This slightly bullish trend is reinforced by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
Bearish doji star
Type : Bearish
Timeframe : 1 hour
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1,817.96 | 1,826.87 | 1,835.54 | 1,850.94 | 1,859.45 | 1,880.43 | 1,891.93 |
| Change (%) | -1.78% | -1.30% | -0.83% | - | +0.46% | +1.59% | +2.21% |
| Change | -32.98 | -24.07 | -15.40 | - | +8.51 | +29.49 | +40.99 |
| Level | Major | Minor | Minor | - | Intermediate | Intermediate | Intermediate |
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 | 1,803.99 | 1,813.53 | 1,832.24 | 1,841.78 | 1,860.49 | 1,870.03 | 1,888.74 |
| Camarilla | 1,843.17 | 1,845.76 | 1,848.35 | 1,850.94 | 1,853.53 | 1,856.12 | 1,858.71 |
| Woodie | 1,808.57 | 1,815.82 | 1,836.82 | 1,844.07 | 1,865.07 | 1,872.32 | 1,893.32 |
| Fibonacci | 1,813.53 | 1,824.33 | 1,830.99 | 1,841.78 | 1,852.58 | 1,859.24 | 1,870.03 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,737.44 | 1,775.56 | 1,804.30 | 1,842.42 | 1,871.16 | 1,909.28 | 1,938.02 |
| Camarilla | 1,814.65 | 1,820.78 | 1,826.91 | 1,833.04 | 1,839.17 | 1,845.30 | 1,851.43 |
| Woodie | 1,732.75 | 1,773.22 | 1,799.61 | 1,840.08 | 1,866.47 | 1,906.94 | 1,933.33 |
| Fibonacci | 1,775.56 | 1,801.10 | 1,816.88 | 1,842.42 | 1,867.96 | 1,883.74 | 1,909.28 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,719.42 | 1,753.30 | 1,794.29 | 1,828.17 | 1,869.16 | 1,903.04 | 1,944.03 |
| Camarilla | 1,814.69 | 1,821.55 | 1,828.42 | 1,835.28 | 1,842.14 | 1,849.01 | 1,855.87 |
| Woodie | 1,722.98 | 1,755.08 | 1,797.85 | 1,829.95 | 1,872.72 | 1,904.82 | 1,947.59 |
| Fibonacci | 1,753.30 | 1,781.90 | 1,799.57 | 1,828.17 | 1,856.77 | 1,874.44 | 1,903.04 |
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): | 64.83 | |
| MACD (12,26,9): | 2.1400 | |
| Directional Movement: | 4.06 | |
| AROON (14): | 42.85 | |
| DEMA (21): | 1,840.18 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,819.78 | |
| Elder Ray (13): | 10.01 | |
| Super Trend (3,10): | 1,833.49 | |
| Zig ZAG (10): | 1,850.94 | |
| VORTEX (21): | 1.1000 | |
| Stochastique (14,3,5): | 94.26 | |
| TEMA (21): | 1,846.65 | |
| Williams %R (14): | -1.38 | |
| Chande Momentum Oscillator (20): | 24.48 | |
| Repulse (5,40,3): | 0.4700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 1.53 |
| MA7: | 1,848.27 | |
| MA20: | 1,857.20 | |
| MA50: | 1,825.00 | |
| MA100: | 1,723.86 | |
| MAexp7: | 1,844.99 | |
| MAexp20: | 1,839.24 | |
| MAexp50: | 1,843.27 | |
| MAexp100: | 1,848.82 | |
| Price / MA7: | +0.14% | |
| Price / MA20: | -0.34% | |
| Price / MA50: | +1.42% | |
| Price / MA100: | +7.37% | |
| Price / MAexp7: | +0.32% | |
| Price / MAexp20: | +0.64% | |
| Price / MAexp50: | +0.42% | |
| Price / MAexp100: | +0.11% |
Quotes :
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15 min delayed data
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This member declared not having a position on this financial instrument or a related financial instrument.
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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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