SOCIETE GENERALE - 1H - Technical analysis published on 08/09/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
44%
28%
28%
My opinion
Bearish under 20.893 EUR
My targets
20.208 EUR (-1.01%)
19.370 EUR (-5.12%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on SOCIETE GENERALE as long as the price remains well below 20.893 EUR. The next bearish objective for sellers is set at 20.208 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 19.370 EUR. If there is any crossing, the next objective would be the support located at 17.547 EUR. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
4.1
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
SOCIETE GENERALE rating 20.415 EUR. The price is lower by -0.05% since the last closing and was traded between 20.405 EUR and 20.730 EUR over the period. The price is currently at +0.05% from its lowest and -1.52% from its highest.20.405
20.730
20.415
A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by SOCIETE GENERALE:
Technical
Technical analysis of this 1H chart of SOCIETE GENERALE indicates that the overall trend is strongly bearish. 82.14% of the signals given by moving averages are bearish. The slightly bearish signals from short-term moving averages show that the overall trend is slowing down. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
In fact, of the 18 technical indicators analysed by Central Analyzer, 8 are bullish, 5 are neutral and 5 are bearish. The Central Indicators scanner found no further results concerning independent technical indicators.
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
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 | 17.547 | 19.370 | 20.208 | 20.415 | 20.893 | 21.914 | 23.016 |
| Change (%) | -14.05% | -5.12% | -1.01% | - | +2.34% | +7.34% | +12.74% |
| Change | -2.868 | -1.045 | -0.207 | - | +0.478 | +1.499 | +2.601 |
| Level | Major | Intermediate | Major | - | Intermediate | Minor | Major |
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 | 19.790 | 19.935 | 20.180 | 20.325 | 20.570 | 20.715 | 20.960 |
| Camarilla | 20.318 | 20.354 | 20.389 | 20.425 | 20.461 | 20.497 | 20.532 |
| Woodie | 19.840 | 19.960 | 20.230 | 20.350 | 20.620 | 20.740 | 21.010 |
| Fibonacci | 19.935 | 20.084 | 20.176 | 20.325 | 20.474 | 20.566 | 20.715 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.367 | 17.878 | 19.207 | 21.718 | 23.047 | 25.558 | 26.887 |
| Camarilla | 19.479 | 19.831 | 20.183 | 20.535 | 20.887 | 21.239 | 21.591 |
| Woodie | 14.775 | 17.583 | 18.615 | 21.423 | 22.455 | 25.263 | 26.295 |
| Fibonacci | 17.878 | 19.345 | 20.252 | 21.718 | 23.185 | 24.092 | 25.558 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 20.683 | 21.497 | 22.738 | 23.552 | 24.793 | 25.607 | 26.848 |
| Camarilla | 23.415 | 23.603 | 23.792 | 23.980 | 24.168 | 24.357 | 24.545 |
| Woodie | 20.898 | 21.604 | 22.953 | 23.659 | 25.008 | 25.714 | 27.063 |
| Fibonacci | 21.497 | 22.282 | 22.767 | 23.552 | 24.337 | 24.822 | 25.607 |
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): | 47.60 | |
| MACD (12,26,9): | -0.0080 | |
| Directional Movement: | 0.669 | |
| AROON (14): | 71.429 | |
| DEMA (21): | 20.432 | |
| Parabolic SAR (0,02-0,02-0,2): | 20.130 | |
| Elder Ray (13): | -0.041 | |
| Super Trend (3,10): | 20.157 | |
| Zig ZAG (10): | 20.430 | |
| VORTEX (21): | 0.9870 | |
| Stochastique (14,3,5): | 57.08 | |
| TEMA (21): | 20.596 | |
| Williams %R (14): | -46.40 | |
| Chande Momentum Oscillator (20): | 0.305 | |
| Repulse (5,40,3): | -0.3880 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0060 | |
| Courbe Coppock: | 0.46 |
| MA7: | 20.572 | |
| MA20: | 22.683 | |
| MA50: | 23.090 | |
| MA100: | 23.983 | |
| MAexp7: | 20.486 | |
| MAexp20: | 20.463 | |
| MAexp50: | 20.782 | |
| MAexp100: | 21.512 | |
| Price / MA7: | -0.76% | |
| Price / MA20: | -10.00% | |
| Price / MA50: | -11.59% | |
| Price / MA100: | -14.88% | |
| Price / MAexp7: | -0.35% | |
| Price / MAexp20: | -0.23% | |
| Price / MAexp50: | -1.77% | |
| Price / MAexp100: | -5.10% |
Quotes :
-
15 min delayed data
-
Euronext Paris
News
Don't forget to follow the news on SOCIETE GENERALE. At the time of publication of this analysis, the latest news was as follows:
- Societe Generale: shares & voting rights as of 31 July 2024
- Societe Generale: Half-Year statement on the Liquidity agreement
- Societe Generale: shares & voting rights as of 30 June 2024
- Completion of Societe Generale’s 279.8 million euros share buyback program for cancellation purpose
- Ageras enters into an exclusive agreement with Societe Generale to acquire Shine and become one of the leading European providers of banking and accounting software for SMEs
This member declared not having a position on this financial instrument or a related financial instrument.
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