ENZYME - MLN/USD - 1H - Technical analysis published on 10/22/2024 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 17.90 USD
My targets
18.51 USD (+2.78%)
20.02 USD (+11.16%)
My analysis
ENZYME - MLN/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 17.90 USD. The next resistance located at 18.51 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 20.02 USD. After this resistance, buyers could then target 22.33 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
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
8.2
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
ENZYME - MLN/USD rating 18.01 USD. The price registered an increase of +4.83% on the session and was between 16.99 USD and 18.33 USD. This implies that the price is at +6.00% from its lowest and at -1.75% from its highest.16.99
18.33
18.01
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this ENZYME - MLN/USD chart shows a strongly bullish trend. The signals given by the moving averages are 85.71% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : Moving Average 50
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:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
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 resistance of triangle
Type : Bearish
Timeframe : 1 hour
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
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 | 17.53 | 17.73 | 17.90 | 18.01 | 18.51 | 20.02 | 22.33 |
| Change (%) | -2.67% | -1.55% | -0.61% | - | +2.78% | +11.16% | +23.99% |
| Change | -0.48 | -0.28 | -0.11 | - | +0.50 | +2.01 | +4.32 |
| Level | Minor | Minor | Major | - | Major | Intermediate | Major |
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 | 16.21 | 16.67 | 16.92 | 17.38 | 17.63 | 18.09 | 18.34 |
| Camarilla | 16.99 | 17.05 | 17.12 | 17.18 | 17.25 | 17.31 | 17.38 |
| Woodie | 16.12 | 16.62 | 16.83 | 17.33 | 17.54 | 18.04 | 18.25 |
| Fibonacci | 16.67 | 16.94 | 17.11 | 17.38 | 17.65 | 17.82 | 18.09 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.13 | 15.82 | 16.53 | 17.22 | 17.93 | 18.62 | 19.33 |
| Camarilla | 16.87 | 16.99 | 17.12 | 17.25 | 17.38 | 17.51 | 17.64 |
| Woodie | 15.15 | 15.83 | 16.55 | 17.23 | 17.95 | 18.63 | 19.35 |
| Fibonacci | 15.82 | 16.35 | 16.68 | 17.22 | 17.75 | 18.08 | 18.62 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.29 | 12.09 | 14.04 | 15.84 | 17.79 | 19.59 | 21.54 |
| Camarilla | 14.97 | 15.31 | 15.66 | 16.00 | 16.34 | 16.69 | 17.03 |
| Woodie | 10.38 | 12.13 | 14.13 | 15.88 | 17.88 | 19.63 | 21.63 |
| Fibonacci | 12.09 | 13.52 | 14.40 | 15.84 | 17.27 | 18.15 | 19.59 |
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): | 68.13 | |
| MACD (12,26,9): | 0.1300 | |
| Directional Movement: | 34.62 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 17.58 | |
| Parabolic SAR (0,02-0,02-0,2): | 17.11 | |
| Elder Ray (13): | 0.59 | |
| Super Trend (3,10): | 17.44 | |
| Zig ZAG (10): | 18.01 | |
| VORTEX (21): | 1.1600 | |
| Stochastique (14,3,5): | 87.60 | |
| TEMA (21): | 17.74 | |
| Williams %R (14): | -23.61 | |
| Chande Momentum Oscillator (20): | 0.78 | |
| Repulse (5,40,3): | 2.4900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 5.06 |
| MA7: | 17.39 | |
| MA20: | 16.93 | |
| MA50: | 16.15 | |
| MA100: | 16.63 | |
| MAexp7: | 17.72 | |
| MAexp20: | 17.47 | |
| MAexp50: | 17.40 | |
| MAexp100: | 17.36 | |
| Price / MA7: | +3.57% | |
| Price / MA20: | +6.38% | |
| Price / MA50: | +11.52% | |
| Price / MA100: | +8.30% | |
| Price / MAexp7: | +1.64% | |
| Price / MAexp20: | +3.09% | |
| Price / MAexp50: | +3.51% | |
| Price / MAexp100: | +3.74% |
Quotes :
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Real time 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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