Londinia Opportunities Analyses - 05/03/2024 (GMT) EDP RENOVAVEIS - 1H

- EUR (-)

- 15 min delayed data - Euronext Lisbonne

Type:	Stocks
Ticker:	EDPR
ISIN:	ES0127797019

Londinia

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

Europe Stocks
Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

83%

17%

My opinion

Bullish above 13.11 EUR

My targets

13.35 EUR (+1.06%)

13.88 EUR (+5.07%)

My analysis

EDP RENOVAVEIS 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 13.11 EUR. The next resistance located at 13.35 EUR 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 13.88 EUR. After this resistance, buyers could then target 16.71 EUR. 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

8.8

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 EDP RENOVAVEIS price is 13.21 EUR. On the day, this instrument lost -0.08% and was traded between 13.13 EUR and 13.35 EUR over the period. The price is currently at +0.61% from its lowest and -1.05% from its highest.

13.13

13.35

13.21

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:

The Central Records scanner for higher/lower results shows an item:

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of EDP RENOVAVEIS indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, 15 technical indicators on 18 studied are currently positioned bullish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Near resistance of channel

Type : Bearish

Timeframe : 1 hour

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	12.17	12.60	13.11	13.21	13.35	13.88	16.71
Change (%)	-7.87%	-4.62%	-0.76%	-	+1.06%	+5.07%	+26.50%
Change	-1.04	-0.61	-0.10	-	+0.14	+0.67	+3.50
Level	Minor	Major	Major	-	Intermediate	Major	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	12.62	12.74	12.98	13.10	13.34	13.46	13.70
Camarilla	13.12	13.15	13.19	13.22	13.25	13.29	13.32
Woodie	12.68	12.77	13.04	13.13	13.40	13.49	13.76
Fibonacci	12.74	12.88	12.96	13.10	13.24	13.32	13.46

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	11.94	12.21	12.53	12.80	13.12	13.39	13.71
Camarilla	12.69	12.74	12.80	12.85	12.90	12.96	13.01
Woodie	11.97	12.22	12.56	12.81	13.15	13.40	13.74
Fibonacci	12.21	12.44	12.58	12.80	13.03	13.17	13.39

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	10.63	11.27	12.07	12.71	13.51	14.15	14.95
Camarilla	12.47	12.61	12.74	12.87	13.00	13.13	13.27
Woodie	10.71	11.31	12.15	12.75	13.59	14.19	15.03
Fibonacci	11.27	11.82	12.16	12.71	13.26	13.60	14.15

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):	59.26
MACD (12,26,9):	0.0800
Directional Movement:	12.58
AROON (14):	85.71
DEMA (21):	13.18
Parabolic SAR (0,02-0,02-0,2):	12.97
Elder Ray (13):	0.06
Super Trend (3,10):	12.87
Zig ZAG (10):	13.19
VORTEX (21):	1.1400
Stochastique (14,3,5):	73.45
TEMA (21):	13.21
Williams %R (14):	-25.42
Chande Momentum Oscillator (20):	0.18
Repulse (5,40,3):	-0.0900
ROCnROLL:	1
TRIX (15,9):	0.0700
Courbe Coppock:	4.46

MA7:	12.93
MA20:	12.76
MA50:	12.97
MA100:	14.56
MAexp7:	13.17
MAexp20:	13.08
MAexp50:	12.97
MAexp100:	12.90
Price / MA7:	+2.17%
Price / MA20:	+3.53%
Price / MA50:	+1.85%
Price / MA100:	-9.27%
Price / MAexp7:	+0.30%
Price / MAexp20:	+0.99%
Price / MAexp50:	+1.85%
Price / MAexp100:	+2.40%

Quotes : - 15 min delayed data - Euronext Lisbonne

News

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