Industrial Engineering (41)

Mitsubhi Electric Corp. (MEL)

Sell: 1,390.00¥

Buy: 0.00¥

Change: -127.48¥ | -8.21%

Last updated n/a. Prices delayed by at least 15 minutes. Change is calculated based on previous close price.

Technical analysis

The information in this section is provided by Noesis Tech Analysis not Barclays.

This share factsheet isn’t an investment recommendation. We don’t offer personal advice so if you’re unsure, please seek independent advice. Remember, the value of investments can fall as well as rise and you may get back less than you invest.

Trend

The trend arrows show short, mid and long term signal.

Short term:

Bullish
Medium term:

Strong Bullish
Long term:

Bullish

Short term comment

The movement is considered of type neutral-bullish quoting at resistance levels of 2376.038, a critical zone whose overcoming is necessary to move the bearish risk away. Support of low importance in 2296 and base of the range in 2230.634, below which the technical situation would be significantly more negative.

Long term comment

Between february 24 and june 26 there was a bullish phase that moved the prices from 1618.660 to 2917.984. This phase was corrected by a relevant bearish reaction that returned the quotation until 1851.445 on the 28th of august levels. Following this, the current rise from 1851.445 to 2407.000 has not reached the previous highs at 2917.984, an area of significant resistance.

Technical outlook

Bullish in the long term, although it must still break above the resistance at 21.07 to slightly improve in the short term.

Technical Comment: Outperform

Oscillators

Moving average

View technical details

Pivot points

Pivot points
Support 3	Support 2	Support 1	Resistance 1	Resistance 2	Resistance 3
2296.0000	2327.0000	2340.0000	2371.0000	2389.0000	2420.0000

Alerts

Alerts
Priority	Date	Warning
Medium priority	18/10/2024	Being near (below) the short-term moving average may react at least temporarily to the downside, but if it breaks above the level the signal would be reversed to bullish.
Medium priority	18/10/2024	A price above the moving average indicates an upward trend. Consequently, if the price is dragged below, it would change to bearish.
Medium priority	18/10/2024	Being near (below) the short-term moving average may react at least temporarily to the downside, but if it breaks above the level the signal would be reversed to bullish.
High priority	18/10/2024	The price is close to supports. It is recommended to monitor if bulls are back in control when they are reached.
High priority	18/10/2024	Price in resistance area. Breaking it would be a positive signal, but consider the possibility of noise (false breaks) around the level.
Medium priority	17/10/2024	Being near (below) the short-term moving average may react at least temporarily to the downside, but if it breaks above the level the signal would be reversed to bullish.
Medium priority	17/10/2024	Since the price is close to the moving average, it could strengthen to the upside, aothough quotes below it would signal a bearish reversal.
Medium priority	17/10/2024	Being near (below) the short-term moving average may react at least temporarily to the downside, but if it breaks above the level the signal would be reversed to bullish.
High priority	17/10/2024	The price is close to supports. It is recommended to monitor if bulls are back in control when they are reached.
High priority	17/10/2024	Price in resistance area. Breaking it would be a positive signal, but consider the possibility of noise (false breaks) around the level.
Medium priority	16/10/2024	A price above the moving average indicates an upward trend. Consequently, if the price is dragged below, it would change to bearish.

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