Londinia Opportunities Analyses - 05/02/2024 (GMT) TORM PLC - 1H

- USD (-)

- 15 min delayed data - NASDAQ Stocks

Type:	Stocks
Ticker:	TRMD
ISIN:	GB00BZ3CNK81

Londinia

I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.

U.S. Stocks
Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bullish

Underlying: Strongly bullish

Technical indicators

78%

17%

My opinion

Bullish above 34.34 USD

My targets

34.85 USD (+0.87%)

35.16 USD (+1.77%)

My analysis

The basic bullish trend is very strong on TORM PLC but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 34.34 USD. Crossing the first resistance at 34.85 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 35.16 USD as an objective. Caution, a return to below 34.34 USD would be a sign of a consolidation phase in the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

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

7.7

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.

Additional analysis

Quotes

The TORM PLC price is 34.55 USD. The price has increased by +2.16% since the last closing with the lowest point at 33.85 USD and the highest point at 34.58 USD. The deviation from the price is +2.07% for the low point and -0.09% for the high point.

33.85

34.58

34.55

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by TORM PLC:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of TORM PLC indicates that the overall trend is strongly bullish. 89.29% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:

Bullish trend reversal : adaptative moving average 20

Type : Bullish

Timeframe : 1 hour

In fact, 14 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

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

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour

MACD indicator is back over 0

Type : Bullish

Timeframe : 1 hour

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	33.61	33.86	34.34	34.55	34.85	35.16
Change (%)	-2.72%	-2.00%	-0.61%	-	+0.87%	+1.77%
Change	-0.94	-0.69	-0.21	-	+0.30	+0.61
Level	Minor	Minor	Minor	-	Major	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	32.87	33.24	33.53	33.90	34.19	34.56	34.85
Camarilla	33.64	33.70	33.76	33.82	33.88	33.94	34.00
Woodie	32.83	33.22	33.49	33.88	34.15	34.54	34.81
Fibonacci	33.24	33.49	33.65	33.90	34.15	34.31	34.56

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	30.47	31.36	33.01	33.90	35.55	36.44	38.09
Camarilla	33.95	34.18	34.42	34.65	34.88	35.12	35.35
Woodie	30.84	31.55	33.38	34.09	35.92	36.63	38.46
Fibonacci	31.36	32.33	32.93	33.90	34.87	35.47	36.44

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	29.82	30.94	32.68	33.80	35.54	36.66	38.40
Camarilla	33.64	33.91	34.17	34.43	34.69	34.95	35.22
Woodie	30.14	31.10	33.00	33.96	35.86	36.82	38.72
Fibonacci	30.94	32.03	32.70	33.80	34.89	35.56	36.66

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	57.91
MACD (12,26,9):	0.0200
Directional Movement:	9.67
AROON (14):	-28.57
DEMA (21):	34.26
Parabolic SAR (0,02-0,02-0,2):	33.77
Elder Ray (13):	0.29
Super Trend (3,10):	33.78
Zig ZAG (10):	34.52
VORTEX (21):	0.9700
Stochastique (14,3,5):	81.33
TEMA (21):	34.17
Williams %R (14):	-16.67
Chande Momentum Oscillator (20):	0.08
Repulse (5,40,3):	0.7800
ROCnROLL:	1
TRIX (15,9):	-0.0100
Courbe Coppock:	1.57

MA7:	34.23
MA20:	33.63
MA50:	33.16
MA100:	32.26
MAexp7:	34.29
MAexp20:	34.23
MAexp50:	34.07
MAexp100:	33.83
Price / MA7:	+0.93%
Price / MA20:	+2.74%
Price / MA50:	+4.19%
Price / MA100:	+7.10%
Price / MAexp7:	+0.76%
Price / MAexp20:	+0.93%
Price / MAexp50:	+1.41%
Price / MAexp100:	+2.13%

Quotes : - 15 min delayed data - Actions NASDAQ

News

Don't forget to follow the news on TORM PLC. At the time of publication of this analysis, the latest news was as follows: