SOLVAY SA (SOLB.BR)       87.44  +1.42 (+1.65%)

87.44  +1.42 (+1.65%)

BE0003470755 - Common Stock

Technical Rating

We assign a technical rating of 2 out of 10 to SOLB. In the past year, SOLB was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.



In the last month SOLB has a been trading in the 74.04 - 87.82 range, which is quite wide. It is currently trading near the high of this range.
The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
SOLB is part of the Chemicals industry. There are 30 other stocks in this industry, SOLB did better than 46% of them.
Considerably lower volume is observed in the last couple of days.
When comparing the yearly performance of all stocks, SOLB is a bad performer in the overall market: 86% of all stocks are doing better.
SOLB is currently trading in the lower part of its 52 week range, which is not a good signal. Agreed, the S&P500 Index is also not doing fantastic, but it still sitting in the middle of its 52 week range.

Statistics

1 Month 3 Months 6 Months 12 Months 13.26% -5.39% -20.51% -25.90% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 14.8 74.04 - 117.45
SOLB Weekly chart
SOLB Daily chart

Support/Resistance Analysis


74.07

103.02
3 important support areas can be observed.
  • A support zone ranging from 84.72 to 85.69. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • A support zone ranging from 77.30 to 77.82. This zone is formed by a combination of multiple trend lines in the weekly time frame.
  • Support @74.82 from a horizontal line in the daily time frame.
We can see 4 important resistance areas.
  • Resistance @87.45 from a horizontal line in the daily time frame.
  • Resistance @90.56 from a trend line in the daily time frame.
  • Resistance @93.32 from a horizontal line in the weekly time frame.
  • Resistance @102.00 from a trend line in the weekly time frame.

Setup Analysis

Setup Rating

Although the technical rating is bad, SOLB does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 85.69, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for SOLB in the last couple of days, which is a good sign.

  • Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.

SOLB Daily chart

SOLVAY SA87.44

EBR:SOLB (8/10/2022, 7:00:00 PM)+1.42 (+1.65%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Materials
GICS Industry Chemicals
Performance
Today 1.65% 1 Week 1.6%
2 Weeks 9.05% 1 Month 13.26%
3 Month -5.39% 6 Month -20.51%
Volatility
ATR(14) 2.25 ATR(20)% 2.99%
ATR Inc -3.73% Range Today 2.64
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 14.8 Mansfield -0.68
10 Day High 87.82 10 Day Low 81.6
20 Day High 87.82 20 Day Low 74.04
52 Week High 117.45 52 Week Low 74.04
CS1 End 85.69 CR1 Start 87.45
Volume & EV
DER(3) 4.67% DER(5) 4.21%
Volume 112.46K Volume Incr -49.1%
Vol(5) 110.08K Vol(50) 203.58K

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