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Content
Signals
All indicators - Medium term
Orkla ASAMay 22, 2024
Crayon Group HoldingMay 22, 2024
2020 Bulkers LTDMay 22, 2024
Aker HorizonsMay 22, 2024
Odfjell DrillingMay 22, 2024

The market showed a small loss Wednesday, and Hovedindeksen ended the day at 1418 points, which is a decline of 0.4 percent.

127 shares showed a gain and 155 showed a loss. 28 shares were unchanged and closed at the same price as the previous day. There was no trading in 21 shares.

Total value of the trading volume for shares and primary capital certificates Wednesday was approximately 6.1 billion.

Borgestad ASA closed at 0.43 kroner after posting a gain of 9.2 percent. We must go back to Dec 28. 2023 to find an equally strong rise. That time the stock gained 9.3 percent. It was also extremely high volume. Overall it was traded for 29 millions kroner in the stock, which is 56 times as much as normal daily turnover. It also looks good technically. The stock is trend wise positive in the medium term and a further increase is indicated.
Golden Ocean Group closed at 151 kroner after posting a loss of 9.9 percent. The stock has never lost more in one day since Nov 16. 2022, when it was down 10.6 percent. The volume was also high. At session end it was bought and sold shares for about 311 million kroner in the stock, which equals four times mean daily turnover. The stock is trend wise positive in the medium term.
Aker Horizons closed at 2.94 kroner after a huge loss of 22.5 percent. The stock has never lost more in one day since we started measuring this Feb 1. 2021. The stock thereby reversed down after five days of gains. Nor does it look good technically. The stock is trend wise negative in the medium term, has resistance at 3.40 kroner and a further decline is indicated.
Bouvet moved up and ended at 65.90 kroner, which is an increase of 5.3 percent. The stock thereby broke the earlier top it set Jan 10 and reached a new year-high. It was also high volume. Overall it was traded for 17 millions kroner in the stock, which is 10 times as much as normal daily turnover. It also looks good technically. The stock is trend wise positive in the medium term and a further increase is indicated.
Nordic Aqua Partners closed at 160 kroner after a solid gain of 3.9 percent. This past week the stock has gained as much as 18.5 percent. It also looks good technically. The stock is trend wise positive in the medium term, has support at 80.00 kroner and a further increase is indicated.

Highest close since Jan 2022.
The market moved up Wednesday, and OMX Stockholm PI ended at 1003 points, which is an increase of 0.1 percent. The index has not closed higher since Jan 2022. Since the buy signal from the rectangle formation six months ago, the index now has gained 21.1 percent.

US 500 weakly lower Wednesday
The market showed a small loss Wednesday, and S&P 500 ended the day at 5307 points, which is a decline of 0.3 percent.

Indices
Hovedindeksen
arrow green   Positive Candidate
Hovedindeksen has broken the rising trend up in the medium long term. This signals an even stronger rate of growth, but the positive development may result in corrections down in the short term. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 1310 points. The volume balance is positive and strengthens the index in the short term. RSI above 70 shows that the index has strong positive momentum in the short term. Investors have steadily paid more to buy the index, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the medium long term.
OMX Stockholm PI
arrow green   Positive Candidate
OMX Stockholm PI shows strong development within a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 828. The objective at 914 is now met, but the formation still gives a signal in the same direction. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 860 points. RSI is above 70 after a good price increase the past weeks. The index has strong positive momentum and further increase is indicated. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the medium long term.
S&P 500
arrow green   Positive Candidate
Investors have paid higher prices over time to buy S&P 500 and the index is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index has broken up through resistance at points 5250. This predicts a further rise. RSI above 70 shows that the index has strong positive momentum in the short term. Investors have steadily paid more to buy the index, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the medium long term.
Today's candidate
Orkla ASA (ORK) Price 83.20, May 22, 2024
chart
Orkla ASA has broken up from an approximate horizontal trend channel in the medium long term after investors have paid ever more. A positive signal has been triggered and further increase for the stock is indicated. It also gave positive signal from the rectangle formation at the break up through the resistance at 77.89. Further rise to 86.05 or more is signaled. The stock has also received a positive signal from the moving average indicator, thus signaling a continued rise. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the stock has support at approximately 77.00 kroner. RSI is above 70 after a good price increase the past weeks. The stock has strong positive momentum and further increase is indicated. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The stock is overall assessed as technically positive for the medium long term.
Recommendation: Positive


 
Latest days indices
AEX-0.11%910.52
CAC40-0.61%8092.11
COMPX-0.18%16802.00
DAX-0.25%18680
HEX-0.14%10377.00
N100-0.29%1543.26
OMXC25GI-0.16%2294.53
OMXSPI0.12%1003.03
OSEBX-0.44%1418.31
PSI200.65%6950.11
TECDAX0.54%3452.20
BUK100P-0.54%835.50
EURUSD-0.09%1.0800
CL (OIL)0.00%78.66
Indices Evaluations
 SML
AEXneutralpospos
CAC40neutralpospos
COMPXpospospos
DAXneutralpospos
HEXposneutralneg
N100pospospos
OMXC25GIpospospos
OMXSPIposposneutral
OSEBXpospospos
PSI20pospospos
TECDAXposneutralpos
BUK100Ppospospos
EURUSDposneutralneutral
CL (OIL)negnegneutral

S: Short term.    M: Medium term.    L: Long term.
Stock Exchange barometer
Oslo Børs - Medium term
 
      
50% 27% 23%
 179 Buy Candidates
 96 Neutral
 86 Sell Candidates
Track what the insiders are doing! Insider buys in green, insider sales in red.
 
   Last month:
   81% Positive
   63 Positive
   15 Negative
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Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

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