SOVOS BRANDS INC (SOVO) Technical Analysis
NASDAQ:SOVO • US84612U1079
Current stock price
SOVO Technical Rating and Analysis
Taking everything into account, SOVO scores 10 out of 10 in our technical rating. 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.
- The long and short term trends are both positive. This is looking good!
- 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 87 other stocks in this industry. SOVO outperforms 87% of them.
- SOVO is currently making a new 52 week high. This is a strong signal. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so SOVO is leading the market.
- 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.
SOVO Weekly and Daily overview Charts
SOVO Setup Rating and Analysis
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
SOVO Support and Resistance Analysis
12.97
When analyzing the support we can see 3 important 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.
SOVO 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 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. |
SOVO Chart- and CandleStick Pattern Analysis
SOVO Technicals: Chart, Performance Metrics, Trend & Indicators
22.98
+0.03 (+0.13%)
SOVOS BRANDS INC / SOVO TA 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 current trend direction of SOVOS BRANDS INC (SOVO) stock?
The current trend direction for SOVOS BRANDS INC (SOVO) is Bullish.
Can you provide the RSI signal for SOVOS BRANDS INC?
SOVOS BRANDS INC (SOVO) has an RSI value of 79.0196. This indicates that the stock is currently overbought.
What is the MACD signal for SOVOS BRANDS INC (SOVO) stock?
The MACD indicator for SOVOS BRANDS INC (SOVO) has a value of 0.027759, indicating a bearish trend.
Can you provide the buy/sell signal for SOVOS BRANDS INC?
The buy/sell signal for SOVOS BRANDS INC (SOVO) is buy as both the short term and long term trends are positive.