SONOCO PRODUCTS CO. - Daily - Technical analysis published on 08/15/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
33%
33%
33%
My opinion
Bearish under 53.35 USD
My targets
48.21 USD (-5.28%)
43.48 USD (-14.58%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on SONOCO PRODUCTS CO.. As long as you are under the resistance located at 53.35 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 48.21 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 43.48 USD as an objective. Crossing it would then enable sellers to target 38.58 USD. If the resistance 53.35 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
3.2
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This analysis was given by robby1966. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The SONOCO PRODUCTS CO. price is 50.90 USD. On the day, this instrument gained +2.27% and was traded between 50.26 USD and 51.02 USD over the period. The price is currently at +1.27% from its lowest and -0.24% from its highest.50.26
51.02
50.90
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by SONOCO PRODUCTS CO.:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of SONOCO PRODUCTS CO. in Daily shows an overall bearish trend. 75.00% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Daily
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.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Daily
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Upside gap
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 38.58 | 43.48 | 48.21 | 50.90 | 51.66 | 53.35 | 54.59 |
| Change (%) | -24.20% | -14.58% | -5.28% | - | +1.49% | +4.81% | +7.25% |
| Change | -12.32 | -7.42 | -2.69 | - | +0.76 | +2.45 | +3.69 |
| Level | Minor | Minor | Major | - | Intermediate | Minor | 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 | 48.70 | 49.03 | 49.40 | 49.73 | 50.10 | 50.43 | 50.80 |
| Camarilla | 49.58 | 49.64 | 49.71 | 49.77 | 49.83 | 49.90 | 49.96 |
| Woodie | 48.72 | 49.04 | 49.42 | 49.74 | 50.12 | 50.44 | 50.82 |
| Fibonacci | 49.03 | 49.30 | 49.46 | 49.73 | 50.00 | 50.16 | 50.43 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 46.40 | 47.45 | 48.22 | 49.27 | 50.04 | 51.09 | 51.86 |
| Camarilla | 48.49 | 48.66 | 48.82 | 48.99 | 49.16 | 49.32 | 49.49 |
| Woodie | 46.26 | 47.38 | 48.08 | 49.20 | 49.90 | 51.02 | 51.72 |
| Fibonacci | 47.45 | 48.15 | 48.58 | 49.27 | 49.97 | 50.40 | 51.09 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 42.66 | 45.18 | 49.27 | 51.79 | 55.88 | 58.40 | 62.49 |
| Camarilla | 51.53 | 52.14 | 52.74 | 53.35 | 53.96 | 54.56 | 55.17 |
| Woodie | 43.44 | 45.57 | 50.05 | 52.18 | 56.66 | 58.79 | 63.27 |
| Fibonacci | 45.18 | 47.71 | 49.27 | 51.79 | 54.32 | 55.88 | 58.40 |
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): | 51.76 | |
| MACD (12,26,9): | -0.6200 | |
| Directional Movement: | 0.05 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 49.46 | |
| Parabolic SAR (0,02-0,02-0,2): | 51.85 | |
| Elder Ray (13): | 0.56 | |
| Super Trend (3,10): | 53.04 | |
| Zig ZAG (10): | 50.97 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 26.29 | |
| TEMA (21): | 49.74 | |
| Williams %R (14): | -57.56 | |
| Chande Momentum Oscillator (20): | -1.66 | |
| Repulse (5,40,3): | 2.0200 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1800 | |
| Courbe Coppock: | 7.98 |
| MA7: | 49.41 | |
| MA20: | 50.66 | |
| MA50: | 52.09 | |
| MA100: | 54.68 | |
| MAexp7: | 49.90 | |
| MAexp20: | 50.37 | |
| MAexp50: | 51.93 | |
| MAexp100: | 53.37 | |
| Price / MA7: | +3.02% | |
| Price / MA20: | +0.47% | |
| Price / MA50: | -2.28% | |
| Price / MA100: | -6.91% | |
| Price / MAexp7: | +2.00% | |
| Price / MAexp20: | +1.05% | |
| Price / MAexp50: | -1.98% | |
| Price / MAexp100: | -4.63% |
Quotes :
-
15 min delayed data
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NYSE Stocks
News
Don't forget to follow the news on SONOCO PRODUCTS CO.. At the time of publication of this analysis, the latest news was as follows:
- Sonoco Products Company to Host Earnings Call
-
Sonoco Products
- Sonoco Implementing Price Increase for Paperboard Tubes and Cores
- Sonoco Implementing Price Increase for All Uncoated Recycled Paperboard Products
- Sonoco Announces Quarterly Conference Calls and Webcasts for 2017
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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