SOLVAY - Daily - Technical analysis published on 02/05/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
50%
22%
My opinion
Bearish under 25.36 EUR
My targets
23.23 EUR (-4.32%)
20.62 EUR (-15.07%)
My analysis
SOLVAY is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 25.36 EUR. The next support located at 23.23 EUR is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 20.62 EUR. Below this support, sellers could then target 18.68 EUR. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.8
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.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
SOLVAY rating 24.28 EUR. The price registered a decrease of -0.53% on the session with the lowest point at 24.25 EUR and the highest point at 24.57 EUR. The deviation from the price is +0.12% for the low point and -1.18% for the high point.24.25
24.57
24.28
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by SOLVAY:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of SOLVAY in Daily shows a overall strongly bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
The Central Indicators scanner specialised in technical indicators, has not detected anything further.
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Three black crows
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 18.68 | 20.62 | 23.23 | 24.28 | 25.36 | 26.94 | 28.36 |
| Change (%) | -23.06% | -15.07% | -4.32% | - | +4.45% | +10.96% | +16.80% |
| Change | -5.60 | -3.66 | -1.05 | - | +1.08 | +2.66 | +4.08 |
| Level | Intermediate | Major | Major | - | Major | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.65 | 24.03 | 24.22 | 24.60 | 24.79 | 25.17 | 25.36 |
| Camarilla | 24.25 | 24.31 | 24.36 | 24.41 | 24.46 | 24.52 | 24.57 |
| Woodie | 23.56 | 23.98 | 24.13 | 24.55 | 24.70 | 25.12 | 25.27 |
| Fibonacci | 24.03 | 24.25 | 24.38 | 24.60 | 24.82 | 24.95 | 25.17 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.56 | 22.98 | 23.70 | 25.12 | 25.84 | 27.26 | 27.98 |
| Camarilla | 23.82 | 24.02 | 24.21 | 24.41 | 24.61 | 24.80 | 25.00 |
| Woodie | 21.20 | 22.81 | 23.34 | 24.95 | 25.48 | 27.09 | 27.62 |
| Fibonacci | 22.98 | 23.80 | 24.31 | 25.12 | 25.94 | 26.45 | 27.26 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.04 | 20.79 | 23.11 | 25.86 | 28.18 | 30.93 | 33.25 |
| Camarilla | 24.05 | 24.51 | 24.98 | 25.44 | 25.91 | 26.37 | 26.83 |
| Woodie | 17.84 | 20.68 | 22.91 | 25.75 | 27.98 | 30.82 | 33.05 |
| Fibonacci | 20.79 | 22.72 | 23.92 | 25.86 | 27.79 | 28.99 | 30.93 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 41.85 | |
| MACD (12,26,9): | -0.4100 | |
| Directional Movement: | -8.27 | |
| AROON (14): | 42.85 | |
| DEMA (21): | 24.85 | |
| Parabolic SAR (0,02-0,02-0,2): | 27.51 | |
| Elder Ray (13): | -0.73 | |
| Super Trend (3,10): | 26.72 | |
| Zig ZAG (10): | 24.40 | |
| VORTEX (21): | 0.7400 | |
| Stochastique (14,3,5): | 27.21 | |
| TEMA (21): | 24.63 | |
| Williams %R (14): | -74.93 | |
| Chande Momentum Oscillator (20): | 0.86 | |
| Repulse (5,40,3): | -5.3900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.2100 | |
| Courbe Coppock: | 3.67 |
| MA7: | 25.24 | |
| MA20: | 25.25 | |
| MA50: | 26.19 | |
| MA100: | 26.28 | |
| MAexp7: | 24.90 | |
| MAexp20: | 25.36 | |
| MAexp50: | 25.87 | |
| MAexp100: | 26.20 | |
| Price / MA7: | -3.80% | |
| Price / MA20: | -3.84% | |
| Price / MA50: | -7.29% | |
| Price / MA100: | -7.61% | |
| Price / MAexp7: | -2.49% | |
| Price / MAexp20: | -4.26% | |
| Price / MAexp50: | -6.15% | |
| Price / MAexp100: | -7.33% |
Quotes :
-
15 min delayed data
-
Euronext Bruxelles
News
The latest news and videos published on SOLVAY at the time of the analysis were as follows:
- Syensqo is born following overwhelming support of shareholders on demerger of Solvay
- Shareholders overwhelmingly support the creation of two independent companies - Solvay and Syensqo
- Solvay announces the publication of a supplement to its information document
- Syensqo launches its 5-year growth strategy to create significant value
- Solvay (EssentialCo) unveils its new strategy and 2028 financial targets
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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