NEX Technical Analysis - NEXANS SA

Technical Rating and Analysis

We assign a technical rating of 2 out of 10 to NEX. In the last year, NEX was a bad performer. We also see some doubts in the very recent evolution, but in the medium term things still look positive.

When comparing the yearly performance of all stocks, NEX is a bad performer in the overall market: 85% of all stocks are doing better.

The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.

NEX is an average performer in the Electrical Equipment industry, it outperforms 53% of 61 stocks in the same industry.

NEX is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so NEX is lagging the market.

In the last month NEX has a been trading in the 112.30 - 136.90 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Volume is considerably higher in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

NEX has a poor technical rating and the quality of the setup is also not perfect at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

113.55

140.00

When analyzing the support we can see 2 important areas.

Support @120.70 from a horizontal line in the weekly time frame.
A support zone ranging from 114.70 to 116.03. This zone is formed by a combination of multiple trend lines in the daily time frame.

When analyzing the resistance we notice 3 important areas.

A resistance zone ranging from 130.26 to 130.85. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A resistance zone ranging from 134.00 to 135.01. This zone is formed by a combination of multiple trend lines in the daily time frame.
A resistance zone ranging from 137.50 to 138.61. This zone is formed by a combination of multiple trend lines in the weekly time frame.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for NEX.PA is up.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for NEX.PA is down.
ChartMill Relative Strength	15.7	NEGATIVE	NEX.PA has a low relative strength, it was outperformed by 84.3% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of NEX.PA is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of NEX.PA is below a declining SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of NEX.PA is above the rising SMA(200).
Relative Strength Index/RSI (14)	42.32	NEUTRAL	The RSI value for NEX.PA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.86	NEGATIVE	The MACD value suggests NEX.PA has a negative trend, although the MACD value is rising.
Stochastics (14,3)	40.61	NEUTRAL	The Stochastics value for NEX.PA is a neutral value.
Average True Range in percent/ATR (20)	3.88	MEDIUM VOLATILITY	The ATR as a percentage value for NEX.PA suggests some volalility.
Average Directional Index/ADX (14)	22.71	NEUTRAL	The ADX value for NEX.PA suggests a possible start of a new trend.