SPINEWAY - 1H - Technical analysis published on 11/23/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
A split or consolidation has occurred on this instrument. There is no more graph available on this analysis.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
44%
17%
39%
My opinion
Bearish under 0.0250 EUR
My targets
0.0226 EUR (-1.44%)
0.0193 EUR (-15.59%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 0.0250 EUR remains possible. It is advisable to trade SPINEWAY with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 0.0250 EUR. The next bearish objective for sellers is set at 0.0226 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.0193 EUR. In case of crossing, the next objective would be the support located at 0.0190 EUR. PS: if there is a bullish break in the resistance located at 0.0250 EUR we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
3
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Additional analysis
Quotes
SPINEWAY rating 0.0229 EUR. On the day, this instrument gained +10.10% and was traded between 0.0208 EUR and 0.0240 EUR over the period. The price is currently at +10.10% from its lowest and -4.58% from its highest.0.0208
0.0240
0.0229
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
A study of price movements over other periods shows the following variations:
New LOW record (5 years)
Type : Bearish
Timeframe : Weekly
Abnormal volumes on SPINEWAY were detected by the Central Volumes scanner:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this 1H chart of SPINEWAY indicates that the overall trend is bearish. The signals given by moving averages are 78.57% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, only 8 technical indicators out of 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
SuperTrend indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
The presence of these bearish patterns in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term were also noted
Black marubozu
Type : Bearish
Timeframe : 1 hour
Long black line
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 0.0190 | 0.0229 | 0.0250 | 0.0321 | 0.0390 |
| Change (%) | -17.03% | - | +9.17% | +40.17% | +70.31% |
| Change | -0.0039 | - | +0.0021 | +0.0092 | +0.0161 |
| Level | Intermediate | - | Intermediate | Minor | 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 | 0.0191 | 0.0199 | 0.0204 | 0.0212 | 0.0217 | 0.0225 | 0.0230 |
| Camarilla | 0.0204 | 0.0206 | 0.0207 | 0.0208 | 0.0209 | 0.0210 | 0.0212 |
| Woodie | 0.0189 | 0.0198 | 0.0202 | 0.0211 | 0.0215 | 0.0224 | 0.0228 |
| Fibonacci | 0.0199 | 0.0204 | 0.0207 | 0.0212 | 0.0217 | 0.0220 | 0.0225 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.0146 | 0.0193 | 0.0226 | 0.0273 | 0.0306 | 0.0353 | 0.0386 |
| Camarilla | 0.0236 | 0.0243 | 0.0251 | 0.0258 | 0.0265 | 0.0273 | 0.0280 |
| Woodie | 0.0138 | 0.0190 | 0.0218 | 0.0270 | 0.0298 | 0.0350 | 0.0378 |
| Fibonacci | 0.0193 | 0.0224 | 0.0243 | 0.0273 | 0.0304 | 0.0323 | 0.0353 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.0697 | -0.0246 | -0.0001 | 0.0450 | 0.0695 | 0.1146 | 0.1391 |
| Camarilla | 0.0054 | 0.0117 | 0.0181 | 0.0245 | 0.0309 | 0.0373 | 0.0436 |
| Woodie | -0.0799 | -0.0298 | -0.0103 | 0.0399 | 0.0593 | 0.1095 | 0.1289 |
| Fibonacci | -0.0246 | 0.0020 | 0.0184 | 0.0450 | 0.0716 | 0.0880 | 0.1146 |
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): | 37.23 | |
| MACD (12,26,9): | -0.0008 | |
| Directional Movement: | 8.2845 | |
| AROON (14): | 78.5714 | |
| DEMA (21): | 0.0208 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.0190 | |
| Elder Ray (13): | 0.0008 | |
| Super Trend (3,10): | 0.0233 | |
| Zig ZAG (10): | 0.0208 | |
| VORTEX (21): | 0.7783 | |
| Stochastique (14,3,5): | 45.33 | |
| TEMA (21): | 0.0210 | |
| Williams %R (14): | -22.00 | |
| Chande Momentum Oscillator (20): | 0.0037 | |
| Repulse (5,40,3): | 2.2641 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.5317 | |
| Courbe Coppock: | 5.77 |
| MA7: | 0.0245 | |
| MA20: | 0.0273 | |
| MA50: | 0.0397 | |
| MA100: | 0.1306 | |
| MAexp7: | 0.0218 | |
| MAexp20: | 0.0220 | |
| MAexp50: | 0.0238 | |
| MAexp100: | 0.0261 | |
| Price / MA7: | -6.53% | |
| Price / MA20: | -16.12% | |
| Price / MA50: | -42.32% | |
| Price / MA100: | -82.47% | |
| Price / MAexp7: | +5.05% | |
| Price / MAexp20: | +4.09% | |
| Price / MAexp50: | -3.78% | |
| Price / MAexp100: | -12.26% |
Quotes :
-
15 min delayed data
-
Euronext Paris
News
The last news published on SPINEWAY at the time of the generation of this analysis was as follows:
- Extraordinary General Meeting's minute
- Deputy Chief Executive Officer's appointment
- US 2023 NASS conference : VEOS System
- VEOS FDA 510(k) clearance
- INTERNATIONAL MASTERCLASS
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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