SOLB | Descending Triangle Breakout – Targeting +34% MoveTicker: EURONEXT:SOLB (Solvay SA – Euronext Brussels)
📆 Timeframe: 4H (4-hour)
📉 Price: €31.58
📈 Pattern: Descending triangle breakout from horizontal support
📊 Breakout Probability : ~73% upward breakout (short-term triangle)
🔍 Technical Setup:
SOLB has successfully broken above a descending resistance line, bouncing off a solid horizontal support level near €28.00. This forms a bullish descending triangle breakout – a structure that historically resolves upward in short- to mid-term timeframes.
✅ Confirmed breakout from descending triangle
🟢 RSI pushing above 56 = bullish short-term momentum
📉 Defined support below = favorable risk/reward
🧠 Trade Plan:
📥 Entry Zone: €31.40–€31.70 (post-breakout confirmation)
⛔ Stop-Loss: Below €27.90 (under support base and triangle invalidation)
🎯 Upside Targets & ROIC (from €31.58):
Target Price Return
🎯 Target 1 €33.84 +7.15%
🎯 Target 2 €39.76 +25.9%
📊 Pattern Probability – Based on Bulkowski:
📐 Pattern: Descending Triangle (short-term breakout)
🔺 Upward breakout probability: ~73%
💹 Measured move confirms Target 2 if volume remains elevated
⚠️ Technical Signals to Watch:
🔎 Strong green candle breaking the triangle → initial confirmation
✅ RSI breakout with no bearish divergence = supports continuation
📈 Volume spike = buyer interest returning
💬 Solvay’s breakout is a classic textbook move off strong horizontal support.
This is a high-probability swing setup with tight risk and excellent upside potential.
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