Londinia Opportunities Analyses - 05/15/2024 (GMT) ECOPETROL S.A. ADS - 1H

- USD (-)

- 15 min delayed data - NYSE Stocks

Type:	Stocks
Ticker:	EC
ISIN:

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: Strongly bullish

Underlying: Strongly bullish

Technical indicators

78%

22%

My opinion

Bullish above 11.93 USD

My targets

12.13 USD (+0.92%)

12.30 USD (+2.33%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on ECOPETROL S.A. ADS as long as the price remains well above 11.93 USD. The buyers' bullish objective is set at 12.13 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 12.30 USD. If there is any crossing, the next objective would be the resistance located at 15.71 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

8.6

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 ECOPETROL S.A. ADS rating is 12.02 USD. The price is lower by -0.58% since the last closing and was traded between 11.72 USD and 12.08 USD over the period. The price is currently at +2.56% from its lowest and -0.50% from its highest.

11.72

12.08

12.02

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

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

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

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 LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of ECOPETROL S.A. ADS in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

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:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators recently detected a signal:

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

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	11.69	11.78	11.93	12.02	12.13	12.30	15.71
Change (%)	-2.75%	-2.00%	-0.75%	-	+0.92%	+2.33%	+30.70%
Change	-0.33	-0.24	-0.09	-	+0.11	+0.28	+3.69
Level	Minor	Intermediate	Minor	-	Major	Intermediate	Major

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	11.28	11.44	11.77	11.93	12.26	12.42	12.75
Camarilla	11.96	12.00	12.05	12.09	12.14	12.18	12.23
Woodie	11.36	11.48	11.85	11.97	12.34	12.46	12.83
Fibonacci	11.44	11.63	11.75	11.93	12.12	12.24	12.42

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	10.82	11.10	11.37	11.65	11.92	12.20	12.47
Camarilla	11.49	11.54	11.59	11.64	11.69	11.74	11.79
Woodie	10.82	11.10	11.37	11.65	11.92	12.20	12.47
Fibonacci	11.10	11.31	11.44	11.65	11.86	11.99	12.20

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	9.75	10.41	11.01	11.67	12.27	12.93	13.53
Camarilla	11.26	11.38	11.50	11.61	11.73	11.84	11.96
Woodie	9.72	10.40	10.98	11.66	12.24	12.92	13.50
Fibonacci	10.41	10.89	11.19	11.67	12.15	12.45	12.93

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):	59.70
MACD (12,26,9):	0.0800
Directional Movement:	13.28
AROON (14):	57.14
DEMA (21):	11.96
Parabolic SAR (0,02-0,02-0,2):	11.76
Elder Ray (13):	0.10
Super Trend (3,10):	11.75
Zig ZAG (10):	12.01
VORTEX (21):	1.1600
Stochastique (14,3,5):	83.33
TEMA (21):	12.01
Williams %R (14):	-20.41
Chande Momentum Oscillator (20):	0.32
Repulse (5,40,3):	0.4200
ROCnROLL:	1
TRIX (15,9):	0.0700
Courbe Coppock:	5.42

MA7:	11.79
MA20:	11.69
MA50:	11.22
MA100:	11.18
MAexp7:	11.97
MAexp20:	11.87
MAexp50:	11.78
MAexp100:	11.72
Price / MA7:	+1.95%
Price / MA20:	+2.82%
Price / MA50:	+7.13%
Price / MA100:	+7.51%
Price / MAexp7:	+0.42%
Price / MAexp20:	+1.26%
Price / MAexp50:	+2.04%
Price / MAexp100:	+2.56%

Quotes : - 15 min delayed data - Actions NYSE

News

Don't forget to follow the news on ECOPETROL S.A. ADS. At the time of publication of this analysis, the latest news was as follows: