SALM Technical Analysis - SALMAR ASA

Technical Rating and Analysis

Overall SALM gets a technical rating of 8 out of 10. Although SALM is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

The long and short term trends are both positive. This is looking good!

SALM is one of the better performing stocks in the Food Products industry, it outperforms 72% of 55 stocks in the same industry.

SALM is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

When compared to the yearly performance of all other stocks, SALM outperforms 65% of them, which is more or less in line with the market.

SALM is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so SALM is lagging the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although SALM has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

534.12

572.18

We found 1 important support area.

A support zone ranging from 539.52 to 541.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

When analyzing the resistance we notice one important area.

A resistance zone ranging from 556.25 to 566.51. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for SALM.OL is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for SALM.OL is up.
ChartMill Relative Strength	65.02	NEUTRAL	SALM.OL is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of SALM.OL is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of SALM.OL is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of SALM.OL is above a declining SMA(200).
Relative Strength Index/RSI (14)	58.72	NEUTRAL	The RSI value for SALM.OL is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-3.27	NEGATIVE	The MACD value suggests SALM.OL has a negative trend.
Stochastics (14,3)	64.02	NEUTRAL	The Stochastics value for SALM.OL is a neutral value.
Average True Range in percent/ATR (20)	2.16	MEDIUM VOLATILITY	The ATR as a percentage value for SALM.OL suggests some volalility.
Average Directional Index/ADX (14)	58.35	POSITIVE	The high ADX value value for SALM.OL suggests a strong trend.