SOLVAY - Daily - Technical analysis published on 08/14/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
28%
61%
11%
My opinion
Bearish under 30.79 EUR
My targets
28.02 EUR (-7.51%)
26.65 EUR (-12.05%)
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 30.79 EUR. The next support located at 28.02 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 26.65 EUR. Below this support, sellers could then target 23.21 EUR.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
4.6
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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 30.30 EUR. On the day, this instrument lost -0.98% and was traded between 30.06 EUR and 30.68 EUR over the period. The price is currently at +0.80% from its lowest and -1.24% from its highest.30.06
30.68
30.30
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of SOLVAY indicates that the overall trend is bearish. The signals given by moving averages are 67.86% bearish. This bearish trend is reinforced 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.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of channel
Type : Bullish
Timeframe : Daily
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 | 21.26 | 23.21 | 26.65 | 30.30 | 30.79 | 32.04 | 33.92 |
| Change (%) | -29.83% | -23.40% | -12.05% | - | +1.62% | +5.74% | +11.95% |
| Change | -9.04 | -7.09 | -3.65 | - | +0.49 | +1.74 | +3.62 |
| Level | Intermediate | Intermediate | 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 | 29.61 | 29.99 | 30.29 | 30.67 | 30.97 | 31.35 | 31.65 |
| Camarilla | 30.41 | 30.48 | 30.54 | 30.60 | 30.66 | 30.73 | 30.79 |
| Woodie | 29.58 | 29.97 | 30.26 | 30.65 | 30.94 | 31.33 | 31.62 |
| Fibonacci | 29.99 | 30.25 | 30.41 | 30.67 | 30.93 | 31.09 | 31.35 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 27.86 | 28.67 | 29.91 | 30.72 | 31.96 | 32.77 | 34.01 |
| Camarilla | 30.60 | 30.78 | 30.97 | 31.16 | 31.35 | 31.54 | 31.72 |
| Woodie | 28.09 | 28.78 | 30.14 | 30.83 | 32.19 | 32.88 | 34.24 |
| Fibonacci | 28.67 | 29.45 | 29.93 | 30.72 | 31.50 | 31.98 | 32.77 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 28.02 | 29.89 | 31.20 | 33.07 | 34.38 | 36.25 | 37.56 |
| Camarilla | 31.65 | 31.94 | 32.23 | 32.52 | 32.81 | 33.10 | 33.40 |
| Woodie | 27.75 | 29.75 | 30.93 | 32.93 | 34.11 | 36.11 | 37.29 |
| Fibonacci | 29.89 | 31.10 | 31.85 | 33.07 | 34.28 | 35.03 | 36.25 |
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): | 36.00 | |
| MACD (12,26,9): | -0.6700 | |
| Directional Movement: | -12.73 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 30.82 | |
| Parabolic SAR (0,02-0,02-0,2): | 32.27 | |
| Elder Ray (13): | -0.82 | |
| Super Trend (3,10): | 33.09 | |
| Zig ZAG (10): | 30.25 | |
| VORTEX (21): | 0.8900 | |
| Stochastique (14,3,5): | 22.30 | |
| TEMA (21): | 30.19 | |
| Williams %R (14): | -82.78 | |
| Chande Momentum Oscillator (20): | -2.93 | |
| Repulse (5,40,3): | -3.7300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.2100 | |
| Courbe Coppock: | 17.71 |
| MA7: | 30.63 | |
| MA20: | 32.12 | |
| MA50: | 32.30 | |
| MA100: | 31.31 | |
| MAexp7: | 30.72 | |
| MAexp20: | 31.58 | |
| MAexp50: | 31.88 | |
| MAexp100: | 30.81 | |
| Price / MA7: | -1.08% | |
| Price / MA20: | -5.67% | |
| Price / MA50: | -6.19% | |
| Price / MA100: | -3.23% | |
| Price / MAexp7: | -1.37% | |
| Price / MAexp20: | -4.05% | |
| Price / MAexp50: | -4.96% | |
| Price / MAexp100: | -1.66% |
Quotes :
-
15 min delayed data
-
Euronext Bruxelles
News
Don't forget to follow the news on SOLVAY. At the time of publication of this analysis, the latest news was as follows:
- Solvay starts a new share buyback program to cover its long-term incentive plans
- Solvay second quarter 2024 results
- Solvay and Cyclic Materials sign supply agreement for recycled mixed rare earth oxide (EN / FR)
- Participation notifications by BNP Paribas Asset Management SA
- Solvay first quarter 2024 results
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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