SOLVAY - 1H - Technical analysis published on 09/10/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 31.54 EUR
My targets
32.36 EUR (+1.09%)
34.64 EUR (+8.22%)
My analysis
SOLVAY is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 31.54 EUR. The next resistance located at 32.36 EUR is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 34.64 EUR. With the current pattern, you will need to monitor for possible bullish 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 bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.5
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Additional analysis
Quotes
The SOLVAY rating is 32.01 EUR. On the day, this instrument gained +1.14% and was traded between 31.59 EUR and 32.04 EUR over the period. The price is currently at +1.33% from its lowest and -0.09% from its highest.31.59
32.04
32.01
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this SOLVAY chart shows a strongly bullish trend. The signals given by the moving averages are 82.14% bullish. This strong bullish 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 shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 31.18 | 31.54 | 31.87 | 32.01 | 32.09 | 32.36 | 34.64 |
| Change (%) | -2.59% | -1.47% | -0.44% | - | +0.25% | +1.09% | +8.22% |
| Change | -0.83 | -0.47 | -0.14 | - | +0.08 | +0.35 | +2.63 |
| Level | Intermediate | Minor | Minor | - | Minor | Intermediate | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 30.93 | 31.10 | 31.38 | 31.55 | 31.83 | 32.00 | 32.28 |
| Camarilla | 31.53 | 31.57 | 31.61 | 31.65 | 31.69 | 31.73 | 31.77 |
| Woodie | 30.98 | 31.13 | 31.43 | 31.58 | 31.88 | 32.03 | 32.33 |
| Fibonacci | 31.10 | 31.28 | 31.38 | 31.55 | 31.73 | 31.83 | 32.00 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 29.38 | 30.20 | 30.71 | 31.53 | 32.04 | 32.86 | 33.37 |
| Camarilla | 30.84 | 30.97 | 31.09 | 31.21 | 31.33 | 31.45 | 31.58 |
| Woodie | 29.22 | 30.12 | 30.55 | 31.45 | 31.88 | 32.78 | 33.21 |
| Fibonacci | 30.20 | 30.71 | 31.03 | 31.53 | 32.04 | 32.36 | 32.86 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 26.78 | 28.13 | 29.91 | 31.26 | 33.04 | 34.39 | 36.17 |
| Camarilla | 30.84 | 31.13 | 31.41 | 31.70 | 31.99 | 32.27 | 32.56 |
| Woodie | 27.01 | 28.24 | 30.14 | 31.37 | 33.27 | 34.50 | 36.40 |
| Fibonacci | 28.13 | 29.32 | 30.06 | 31.26 | 32.45 | 33.19 | 34.39 |
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): | 61.66 | |
| MACD (12,26,9): | 0.0500 | |
| Directional Movement: | 3.64 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 31.69 | |
| Parabolic SAR (0,02-0,02-0,2): | 31.20 | |
| Elder Ray (13): | 0.23 | |
| Super Trend (3,10): | 32.18 | |
| Zig ZAG (10): | 32.03 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 96.17 | |
| TEMA (21): | 31.75 | |
| Williams %R (14): | -1.18 | |
| Chande Momentum Oscillator (20): | 0.82 | |
| Repulse (5,40,3): | 1.4100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 1.29 |
| MA7: | 31.68 | |
| MA20: | 31.25 | |
| MA50: | 32.02 | |
| MA100: | 32.06 | |
| MAexp7: | 31.78 | |
| MAexp20: | 31.66 | |
| MAexp50: | 31.63 | |
| MAexp100: | 31.51 | |
| Price / MA7: | +1.04% | |
| Price / MA20: | +2.43% | |
| Price / MA50: | -0.03% | |
| Price / MA100: | -0.16% | |
| Price / MAexp7: | +0.72% | |
| Price / MAexp20: | +1.11% | |
| Price / MAexp50: | +1.20% | |
| Price / MAexp100: | +1.59% |
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: acquisition of own shares
- 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
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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