ERG

- EUR (-)

- 15 min delayed data - Italy Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	ERG
ISIN:	IT0001157020

ERG - Daily - Technical analysis published on 02/09/2023 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bearish

Technical indicators

67%

33%

My opinion

Bearish under 29.24 EUR

My targets

27.58 EUR (-3.50%)

26.42 EUR (-7.56%)

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 29.24 EUR remains possible. It is advisable to trade ERG with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 29.24 EUR. The next bearish objective for sellers is set at 27.58 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 26.42 EUR. In case of crossing, the next objective would be the support located at 23.62 EUR. PS: if there is a bullish break in the resistance located at 29.24 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.

Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.

Force

0.4

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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Additional analysis

Quotes

The ERG price is 28.58 EUR. The price registered a decrease of -0.07% on the session and was between 28.30 EUR and 28.72 EUR. This implies that the price is at +0.99% from its lowest and at -0.49% from its highest.

28.30

28.72

28.58

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The study of the highest / lowest by the Central Records scanner shows the following results:

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of ERG in Daily shows an overall bearish trend. 71.43% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

An assessment of technical indicators shows a moderate bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Ichimoku - Bullish crossover : Tenkan & Kijun

Type : Bullish

Timeframe : Daily

Price is back under the pivot point

Type : Bearish

Timeframe : Daily

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:

Near horizontal support

Type : Bullish

Timeframe : Daily

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	26.42	27.58	28.30	28.58	29.24	30.70	31.40
Change (%)	-7.56%	-3.50%	-0.98%	-	+2.31%	+7.42%	+9.87%
Change	-2.16	-1.00	-0.28	-	+0.66	+2.12	+2.82
Level	Major	Major	Minor	-	Intermediate	Minor	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	27.95	28.21	28.41	28.67	28.87	29.13	29.33
Camarilla	28.47	28.52	28.56	28.60	28.64	28.68	28.73
Woodie	27.91	28.20	28.37	28.66	28.83	29.12	29.29
Fibonacci	28.21	28.39	28.50	28.67	28.85	28.96	29.13

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	26.59	26.99	27.53	27.93	28.47	28.87	29.41
Camarilla	27.80	27.89	27.97	28.06	28.15	28.23	28.32
Woodie	26.65	27.03	27.59	27.97	28.53	28.91	29.47
Fibonacci	26.99	27.35	27.57	27.93	28.29	28.51	28.87

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	24.19	25.71	26.69	28.21	29.19	30.71	31.69
Camarilla	26.97	27.20	27.43	27.66	27.89	28.12	28.35
Woodie	23.91	25.58	26.41	28.08	28.91	30.58	31.41
Fibonacci	25.71	26.67	27.26	28.21	29.17	29.76	30.71

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):	53.77
MACD (12,26,9):	-0.0800
Directional Movement:	5.69
AROON (14):	42.86
DEMA (21):	28.05
Parabolic SAR (0,02-0,02-0,2):	27.56
Elder Ray (13):	0.28
Super Trend (3,10):	29.24
Zig ZAG (10):	28.52
VORTEX (21):	1.0800
Stochastique (14,3,5):	80.62
TEMA (21):	28.32
Williams %R (14):	-27.27
Chande Momentum Oscillator (20):	0.72
Repulse (5,40,3):	0.8000
ROCnROLL:	-1
TRIX (15,9):	-0.1200
Courbe Coppock:	1.83

MA7:	28.32
MA20:	28.11
MA50:	28.82
MA100:	29.47
MAexp7:	28.35
MAexp20:	28.25
MAexp50:	28.75
MAexp100:	29.43
Price / MA7:	+0.92%
Price / MA20:	+1.67%
Price / MA50:	-0.83%
Price / MA100:	-3.02%
Price / MAexp7:	+0.81%
Price / MAexp20:	+1.17%
Price / MAexp50:	-0.59%
Price / MAexp100:	-2.89%

Quotes : - 15 min delayed data - Italy Stocks

News

The last news published on ERG at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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