Synthesis
Our pivot point is at : 15.4.
Our preference : bearish below 15.4.
Alternative scenario : exceeding 15.4, Vallourec could go to 16.1 and 16.5.
Comment
The RSI is below 30, which may show a downward trend that will continue or an oversold state and therefore a technical recovery is necessary. We can compare the evolution of the RSI with the prices to detect the appearance of divergences between the two. The MACD is below its signal line and negative. The setup is bearish. Additionally, prices are below their 20 and 50 moving averages (located at 16.235 and 16.6578 respectively). Finally, prices are currently below their lower Bollinger band (located at 14.8364).
Tendency | Calculated data | ||
---|---|---|---|
Technical advice | Neutral | Course on 06/15 | 14.48 |
Basic trend | Bearish | Pivot | 15.40 |
Bracket 1 | 13.20 | Additional distance 1 | – 1.28 |
Bracket 2 | 12.80 | Additional distance 2 | – 1.68 |
Resistance 1 | 15.40 | Additional variation 1 | -8.84% |
Resistance 2 | 16.10 | Additional variation 2 | -11.60% |
Technical Analysis provided by Trading Central ©2024. Trading Central is governed by the code of conduct of ANACOFI-CIF, an association approved by the Financial Markets Authority and registered with ORIAS under number 17005458. Trading Central recommends reading the legal and regulatory information as well as the disclaimers regarding the information provided. This indicative information does not in any way constitute an inducement to sell or buy. The reader remains solely responsible for their interpretation and use of the information made available to them.