SOVOS BRANDS INC (SOVO) Stock Technical Analysis
NASDAQ:SOVO - Nasdaq - US84612U1079 - Common Stock - Currency: USD
We assign a technical rating of 10 out of 10 to SOVO. Both in the recent history as in the last year, SOVO has proven to be a steady performer, scoring decent points in every aspect analyzed.
Both the short term and long term trends are positive. This is a very positive sign.
When comparing the yearly performance of all stocks, we notice that SOVO is one of the better performing stocks in the market, outperforming 85% of all stocks. We also observe that the gains produced by SOVO over the past year are nicely spread over this period.
SOVO is part of the Food Products industry. There are 89 other stocks in this industry. SOVO outperforms 85% of them.
A new 52 week high is currently being made by SOVO, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.
SOVO has an average volume of 1794710 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month SOVO has a been trading in a tight range between 22.17 and 23.00.
Volume is considerably higher in the last couple of days.
Although SOVO has an excellent technical rating, it does not present a decent entry opportunity 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
23.22
We found 3 important support areas.
- 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.
When analyzing the resistance we notice one important 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. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
22.98
+0.03 (+0.13%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Staples
GICS IndustryFood Products
Performance
% Chg0.13%
1 Week1.01%
2 Weeks1.82%
1 Month3.23%
3 Month4.69%
6 Month1.46%
12 Month55.17%
2 Year62.06%
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.1
ATR(20)%0.48%
ATR Inc-65.79%
Range Today0.04
ADR(20)0.09
ADR(20)%0.41%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS85.94
Mansfield-0.3
10 Day High23
10 Day Low22.49
20 Day High23
20 Day Low22.17
52 Week High23
52 Week Low14.75
CS1 End22.8
CR1 Start22.98
Volume & EV
DER(3)0.6%
DER(5)-2.04%
Volume6.87M
Volume Incr90.24%
Vol(5)4.12M
Vol(50)1.79M