SOLVAY - 1H - Technical analysis published on 05/07/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 31.57 EUR
My targets
32.73 EUR (+1.42%)
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 31.57 EUR. The next resistance located at 32.73 EUR is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. 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.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7.9
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 Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
SOLVAY rating 32.27 EUR. The price registered an increase of +6.08% on the session with the lowest point at 31.36 EUR and the highest point at 32.37 EUR. The deviation from the price is +2.90% for the low point and -0.31% for the high point.31.36
32.37
32.27
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
A study of price movements over other periods shows the following variations:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of SOLVAY in 1H shows a strongly overall bullish trend. 85.71% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Moving Average bullish crossovers : MA20 & MA50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 100
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
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 2
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Ichimoku : price is over the cloud
Type : Bullish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Long white line
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
Price
| S3 | S2 | S1 | Price | |
|---|---|---|---|---|
| ProTrendLines | 30.72 | 31.18 | 31.57 | 32.27 |
| Change (%) | -4.80% | -3.38% | -2.17% | - |
| Change | -1.55 | -1.09 | -0.70 | - |
| Level | Minor | Intermediate | Major | - |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 29.19 | 29.67 | 30.04 | 30.52 | 30.89 | 31.37 | 31.74 |
| Camarilla | 30.19 | 30.26 | 30.34 | 30.42 | 30.50 | 30.58 | 30.65 |
| Woodie | 29.15 | 29.64 | 30.00 | 30.49 | 30.85 | 31.34 | 31.70 |
| Fibonacci | 29.67 | 29.99 | 30.19 | 30.52 | 30.84 | 31.04 | 31.37 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 27.69 | 28.59 | 29.37 | 30.27 | 31.05 | 31.95 | 32.73 |
| Camarilla | 29.68 | 29.83 | 29.99 | 30.14 | 30.29 | 30.45 | 30.60 |
| Woodie | 27.62 | 28.56 | 29.30 | 30.24 | 30.98 | 31.92 | 32.66 |
| Fibonacci | 28.59 | 29.24 | 29.63 | 30.27 | 30.92 | 31.31 | 31.95 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 20.11 | 22.70 | 26.56 | 29.15 | 33.01 | 35.60 | 39.46 |
| Camarilla | 28.64 | 29.23 | 29.82 | 30.41 | 31.00 | 31.59 | 32.18 |
| Woodie | 20.74 | 23.02 | 27.19 | 29.47 | 33.64 | 35.92 | 40.09 |
| Fibonacci | 22.70 | 25.17 | 26.69 | 29.15 | 31.62 | 33.14 | 35.60 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 72.81 | |
| MACD (12,26,9): | 0.2200 | |
| Directional Movement: | 31.97 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 30.88 | |
| Parabolic SAR (0,02-0,02-0,2): | 30.40 | |
| Elder Ray (13): | 1.09 | |
| Super Trend (3,10): | 30.66 | |
| Zig ZAG (10): | 32.14 | |
| VORTEX (21): | 1.0600 | |
| Stochastique (14,3,5): | 70.48 | |
| TEMA (21): | 31.10 | |
| Williams %R (14): | -10.40 | |
| Chande Momentum Oscillator (20): | 1.99 | |
| Repulse (5,40,3): | 0.6600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0400 | |
| Courbe Coppock: | 5.91 |
| MA7: | 30.64 | |
| MA20: | 30.14 | |
| MA50: | 26.79 | |
| MA100: | 25.64 | |
| MAexp7: | 30.95 | |
| MAexp20: | 30.64 | |
| MAexp50: | 30.50 | |
| MAexp100: | 30.26 | |
| Price / MA7: | +5.32% | |
| Price / MA20: | +7.07% | |
| Price / MA50: | +20.46% | |
| Price / MA100: | +25.86% | |
| Price / MAexp7: | +4.26% | |
| Price / MAexp20: | +5.32% | |
| Price / MAexp50: | +5.80% | |
| Price / MAexp100: | +6.64% |
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 first quarter 2024 results
- 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
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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