SOVOS BRANDS INC (SOVO) Stock Technical Analysis
USA - NASDAQ:SOVO - US84612U1079 - Common Stock
We assign a technical rating of 10 out of 10 to SOVO. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, SOVO is showing a nice and steady performance.
Although SOVO 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.
More info and screens
12.97
3 important support areas can be observed.
- A support zone ranging from 22.31 to 22.80. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 21.49 to 21.66. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @13.10 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 22.98 to 22.99. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 SOVO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for SOVO is up. |
| ChartMill Relative Strength | 85.94 | POSITIVE | SOVO has a high relative strength, it outperformed 85.94% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SOVO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SOVO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SOVO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 79.02 | OVERBOUGHT | The high RSI value suggests SOVO may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests SOVO has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 93.75 | OVERBOUGHT | The high Stochastics value suggests SOVO may be overbought. |
| Average True Range in percent/ATR (20) | 0.48 | LOW VOLATILITY | The low ATR as a percentage value for SOVO suggests low volalility. |
| Average Directional Index/ADX (14) | 58.34 | POSITIVE | The high ADX value value for SOVO suggests a strong trend. |
22.98
+0.03 (+0.13%)
SOVOS BRANDS INC / SOVO FAQ
Can you provide the ChartMill technical rating for SOVOS BRANDS INC?
ChartMill assigns a technical rating of 10 / 10 to SOVO.
What is the trend direction for SOVO stock?
The current trend direction for SOVOS BRANDS INC (SOVO) is Bullish.
What is the RSI signal for SOVO stock?
SOVOS BRANDS INC (SOVO) has an RSI value of 79.0196. This indicates that the stock is currently overbought.
What is the short term momentum for SOVOS BRANDS INC (SOVO) stock?
The short term momentum for SOVOS BRANDS INC (SOVO) is positive.
What is the support and resistance level for SOVO stock?
SOVOS BRANDS INC (SOVO) has a support level at 22.8 and a resistance level at 22.98. Check the full technical report for our detailed analysis of SOVO support and resistance levels.