CONNECTM TECHNOLOGY SOLUTIONS - 1H - Technical analysis published on 09/07/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 0.97 USD
My targets
1.09 USD (+6.02%)
1.15 USD (+12.03%)
My analysis
In the short term, there could be an acceleration of the basic bullish trend on CONNECTM TECHNOLOGY SOLUTIONS. This is a positive signal for buyers. As long as the price remains above 0.97 USD, a purchase could be considered. The first bullish objective is located at 1.09 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.15 USD as an objective. Crossing it would then enable buyers to target 1.41 USD. In the event of a return below 0.97 USD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be 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
5.7
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Additional analysis
Quotes
The CONNECTM TECHNOLOGY SOLUTIONS price is 1.03 USD. On the day, this instrument gained +2.60% and was between 0.95 USD and 1.03 USD. This implies that the price is at +7.89% from its lowest and at -0.49% from its highest.0.95
1.03
1.03
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
A study of price movements over other periods shows the following variations:
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
A technical analysis in 1H of this CONNECTM TECHNOLOGY SOLUTIONS chart shows a bullish trend. 67.86% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals 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, 13 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
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
The analysis of the price chart with Central Patterns scanners does not return any result.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 0.72 | 0.91 | 1.03 | 1.03 | 1.41 | 1.66 |
| Change (%) | -29.73% | -11.08% | - | +0.29% | +37.56% | +61.95% |
| Change | -0.30 | -0.11 | - | +0.00 | +0.39 | +0.64 |
| Level | Minor | 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 | 0.89 | 0.92 | 0.97 | 1.00 | 1.05 | 1.08 | 1.13 |
| Camarilla | 1.00 | 1.01 | 1.02 | 1.03 | 1.03 | 1.04 | 1.05 |
| Woodie | 0.91 | 0.93 | 0.99 | 1.01 | 1.07 | 1.09 | 1.15 |
| Fibonacci | 0.92 | 0.95 | 0.97 | 1.00 | 1.03 | 1.05 | 1.08 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.73 | 0.79 | 0.91 | 0.97 | 1.09 | 1.15 | 1.27 |
| Camarilla | 0.98 | 0.99 | 1.01 | 1.03 | 1.04 | 1.06 | 1.07 |
| Woodie | 0.76 | 0.80 | 0.94 | 0.98 | 1.12 | 1.16 | 1.30 |
| Fibonacci | 0.79 | 0.86 | 0.90 | 0.97 | 1.04 | 1.08 | 1.15 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.73 | -0.03 | 0.43 | 1.13 | 1.58 | 2.29 | 2.74 |
| Camarilla | 0.56 | 0.67 | 0.78 | 0.88 | 0.99 | 1.09 | 1.20 |
| Woodie | -0.86 | -0.09 | 0.30 | 1.07 | 1.46 | 2.23 | 2.62 |
| Fibonacci | -0.03 | 0.41 | 0.68 | 1.13 | 1.57 | 1.84 | 2.29 |
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): | 61.67 | |
| MACD (12,26,9): | 0.0311 | |
| Directional Movement: | 17.09 | |
| AROON (14): | 57.14 | |
| DEMA (21): | 0.98 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.95 | |
| Elder Ray (13): | 0.05 | |
| Super Trend (3,10): | 0.87 | |
| Zig ZAG (10): | 1.01 | |
| VORTEX (21): | 1.0641 | |
| Stochastique (14,3,5): | 80.70 | |
| TEMA (21): | 1.01 | |
| Williams %R (14): | -10.25 | |
| Chande Momentum Oscillator (20): | 0.11 | |
| Repulse (5,40,3): | 4.6311 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.3754 | |
| Courbe Coppock: | 20.98 |
| MA7: | 0.92 | |
| MA20: | 1.04 | |
| MA50: | 3.02 | |
| MA100: | 7.13 | |
| MAexp7: | 0.99 | |
| MAexp20: | 0.94 | |
| MAexp50: | 0.93 | |
| MAexp100: | 0.97 | |
| Price / MA7: | +11.90% | |
| Price / MA20: | -1.72% | |
| Price / MA50: | -66.02% | |
| Price / MA100: | -85.62% | |
| Price / MAexp7: | +3.91% | |
| Price / MAexp20: | +8.81% | |
| Price / MAexp50: | +10.73% | |
| Price / MAexp100: | +6.17% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The latest news and videos published on CONNECTM TECHNOLOGY SOLUTIONS at the time of the analysis were as follows:
- ConnectM Prepares to Deleverage Balance Sheet with Board’s Approval of Debt-to-Equity Conversion
- ConnectM Publishes New Investor Materials
- ConnectM Ranks No. 104 on the Inc. 5000
- ConnectM Publishes Impact Scorecard for the Six Months Ended June 30, 2024
- ConnectM Announces Agreement to Acquire a Controlling Interest in DeliveryCircle
This member declared not having a position on this financial instrument or a related financial instrument.
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