SALM Technical Analysis - SALMAR ASA

Technical Rating and Analysis

Taking everything into account, SALM scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, SALM has proven to be a steady performer, scoring decent points in every aspect analyzed.

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

SALM is part of the Food Products industry. There are 59 other stocks in this industry. SALM outperforms 79% of them.

A new 52 week high is currently being made by SALM, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.

In the last month SALM has a been trading in the 528.00 - 617.00 range, which is quite wide. It is currently trading near the high of this range.

When comparing the yearly performance of all stocks, we notice that SALM is one of the better performing stocks in the market, outperforming 84% of all stocks. However, this relatively good performance is mostly due to a recent big move.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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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 present a decent entry opportunity at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

524.26

622.16

When analyzing the support we can see 2 important areas.

A support zone ranging from 562.95 to 567.75. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A support zone ranging from 529.56 to 532.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

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What is Support and Resistance

Support and Resistance indicators

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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	84.1	POSITIVE	SALM.OL has a high relative strength, it outperformed 84.1% off all stocks 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)	UP	POSITIVE	The current price of SALM.OL is above the rising SMA(200).
Relative Strength Index/RSI (14)	79.61	OVERBOUGHT	The high RSI value suggests SALM.OL may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	4.55	POSITIVE	The MACD value suggests SALM.OL has a positive trend.
Stochastics (14,3)	99.63	OVERBOUGHT	The high Stochastics value suggests SALM.OL may be overbought.
Average True Range in percent/ATR (20)	2.27	MEDIUM VOLATILITY	The ATR as a percentage value for SALM.OL suggests some volalility.
Average Directional Index/ADX (14)	53.21	POSITIVE	The high ADX value value for SALM.OL suggests a strong trend.