SOLVAY - 1H - Technical analysis published on 03/19/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
56%
17%
My opinion
Bearish under 23.79 EUR
My targets
23.25 EUR (-0.60%)
22.98 EUR (-1.75%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on SOLVAY as long as the price remains well below 23.79 EUR. The sellers' bearish objective is set at 23.25 EUR. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 22.98 EUR. In case of crossing, the next objective would be the support located at 22.21 EUR. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.6
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
SOLVAY rating 23.39 EUR. The price registered a decrease of -0.21% on the session with the lowest point at 23.04 EUR and the highest point at 23.40 EUR. The deviation from the price is +1.52% for the low point and -0.04% for the high point.23.04
23.40
23.39
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
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 this 1H chart of SOLVAY indicates that the overall trend is strongly bearish. 89.29% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals 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.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 22.21 | 22.98 | 23.25 | 23.39 | 23.79 | 24.08 | 24.62 |
| Change (%) | -5.04% | -1.75% | -0.60% | - | +1.71% | +2.95% | +5.26% |
| Change | -1.18 | -0.41 | -0.14 | - | +0.40 | +0.69 | +1.23 |
| Level | Minor | Minor | Intermediate | - | Major | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 22.50 | 22.77 | 23.10 | 23.37 | 23.70 | 23.97 | 24.30 |
| Camarilla | 23.28 | 23.33 | 23.39 | 23.44 | 23.50 | 23.55 | 23.61 |
| Woodie | 22.54 | 22.79 | 23.14 | 23.39 | 23.74 | 23.99 | 24.34 |
| Fibonacci | 22.77 | 23.00 | 23.14 | 23.37 | 23.60 | 23.74 | 23.97 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.52 | 21.38 | 22.30 | 24.16 | 25.08 | 26.94 | 27.86 |
| Camarilla | 22.47 | 22.72 | 22.98 | 23.23 | 23.49 | 23.74 | 24.00 |
| Woodie | 19.06 | 21.15 | 21.84 | 23.93 | 24.62 | 26.71 | 27.40 |
| Fibonacci | 21.38 | 22.44 | 23.10 | 24.16 | 25.22 | 25.88 | 26.94 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.68 | 20.45 | 21.97 | 23.74 | 25.26 | 27.03 | 28.55 |
| Camarilla | 22.60 | 22.90 | 23.20 | 23.50 | 23.80 | 24.10 | 24.41 |
| Woodie | 18.57 | 20.39 | 21.86 | 23.68 | 25.15 | 26.97 | 28.44 |
| Fibonacci | 20.45 | 21.70 | 22.48 | 23.74 | 24.99 | 25.77 | 27.03 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 41.19 | |
| MACD (12,26,9): | -0.2400 | |
| Directional Movement: | -17.29 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 23.28 | |
| Parabolic SAR (0,02-0,02-0,2): | 23.04 | |
| Elder Ray (13): | -0.29 | |
| Super Trend (3,10): | 23.97 | |
| Zig ZAG (10): | 23.33 | |
| VORTEX (21): | 0.8700 | |
| Stochastique (14,3,5): | 28.94 | |
| TEMA (21): | 23.16 | |
| Williams %R (14): | -73.68 | |
| Chande Momentum Oscillator (20): | -0.15 | |
| Repulse (5,40,3): | 1.7800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1500 | |
| Courbe Coppock: | 5.16 |
| MA7: | 23.96 | |
| MA20: | 23.81 | |
| MA50: | 24.10 | |
| MA100: | 24.49 | |
| MAexp7: | 23.37 | |
| MAexp20: | 23.59 | |
| MAexp50: | 23.86 | |
| MAexp100: | 23.87 | |
| Price / MA7: | -2.38% | |
| Price / MA20: | -1.76% | |
| Price / MA50: | -2.95% | |
| Price / MA100: | -4.49% | |
| Price / MAexp7: | +0.09% | |
| Price / MAexp20: | -0.85% | |
| Price / MAexp50: | -1.97% | |
| Price / MAexp100: | -2.01% |
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:
- Solvay fourth quarter and full-year 2023 results
- 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
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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