SONOCO PRODUCTS CO.

- USD (-)

- 15 min delayed data - NYSE Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
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Type:	Stocks
Ticker:	SON
ISIN:

SONOCO PRODUCTS CO. - Daily - Technical analysis published on 08/15/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
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Summary of the analysis

Trends

Short term: Neutral

Underlying: Bearish

Technical indicators

33%

My opinion

Bearish under 51.66 USD

My targets

48.21 USD (-5.15%)

43.48 USD (-14.46%)

My analysis

Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 51.66 USD remains possible. It is advisable to trade SONOCO PRODUCTS CO. with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 51.66 USD. The next bearish objective for sellers is set at 48.21 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 43.48 USD. In case of crossing, the next objective would be the support located at 38.58 USD. PS: if there is a bullish break in the resistance located at 51.66 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.

In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.

Force

3.2

Comment on the analysis

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 robby1966. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The SONOCO PRODUCTS CO. rating is 50.83 USD. On the day, this instrument gained +2.13% with the lowest point at 50.26 USD and the highest point at 51.10 USD. The deviation from the price is +1.13% for the low point and -0.53% for the high point.

50.26

51.10

50.83

A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.

Opening Gap UP

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner for higher/lower results shows an item:

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: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators scanner detects bullish signals on moving averages 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

In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 6 are bullish, 6 are neutral and 6 are 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

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

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

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	38.58	43.48	48.21	50.83	51.66	53.35	54.59
Change (%)	-24.10%	-14.46%	-5.15%	-	+1.63%	+4.96%	+7.40%
Change	-12.25	-7.35	-2.62	-	+0.83	+2.52	+3.76
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 the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	50.73
MACD (12,26,9):	-0.6400
Directional Movement:	0.50
AROON (14):	-50.00
DEMA (21):	49.43
Parabolic SAR (0,02-0,02-0,2):	51.85
Elder Ray (13):	0.63
Super Trend (3,10):	53.04
Zig ZAG (10):	50.82
VORTEX (21):	1.0000
Stochastique (14,3,5):	25.43
TEMA (21):	49.71
Williams %R (14):	-60.14
Chande Momentum Oscillator (20):	-1.81
Repulse (5,40,3):	1.2900
ROCnROLL:	-1
TRIX (15,9):	-0.1800
Courbe Coppock:	8.10

MA7:	49.40
MA20:	50.65
MA50:	52.09
MA100:	54.68
MAexp7:	49.87
MAexp20:	50.35
MAexp50:	51.92
MAexp100:	53.37
Price / MA7:	+2.89%
Price / MA20:	+0.36%
Price / MA50:	-2.42%
Price / MA100:	-7.04%
Price / MAexp7:	+1.93%
Price / MAexp20:	+0.95%
Price / MAexp50:	-2.10%
Price / MAexp100:	-4.76%

Quotes : - 15 min delayed data - 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:

This member declared not having a position on this financial instrument or a related financial instrument.

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