Breakout Stocks of Week 15 @ OMX
NASDAQ was down last week (week 14) by -0.799% ending at 16,248.52 points after falling -130.94 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Svenska Handelsbanken AB OMX:SHB-A. This stock has had a buy signal since Apr 05, 2024 when the price was kr108.45 , but have so far fallen 0% to kr108.45. Some other companies are on our watchlist to, among these are Swedbank AB (publ) OMX:SWED-A NOTE AB (publ) OMX:NOTE SSAB AB OMX:SSAB-A and Svenska Handelsbanken AB (publ) OMX:SHB-B which all got a breakout pattern emerging.
| Date | Company | Price | Week 15 |
|---|---|---|---|
| Svenska Handelsbanken Ab | kr108.45 | kr109.50 | 0.97% |
| Swedbank Ab (publ) | kr217.40 | kr215.50 | -0.87% |
| Note Ab (publ) | kr141.90 | kr137.70 | -2.96% |
| Ssab Ab | kr72.02 | kr67.92 | -5.69% |
| Svenska Handelsbanken Ab (publ) | kr134.30 | kr133.00 | -0.97% |
The Svenska Handelsbanken AB stock price gained 0.231% on the last trading day (Friday, 5th Apr 2024), rising from kr108.20 to kr108.45. During the last trading day the stock fluctuated 2.35% from a day low at kr106.30 to a day high of kr108.80. The price has fallen in 6 of the last 10 days and is down by -11.32% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately kr747.29 million.
Svenska Handelsbanken AB holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
The Swedbank AB (publ) stock price gained 1.40% on the last trading day (Friday, 5th Apr 2024), rising from kr214.40 to kr217.40. During the last trading day the stock fluctuated 3.31% from a day low at kr211.70 to a day high of kr218.70. The price has risen in 7 of the last 10 days but is still down by -4.02% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 551 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately kr647.84 million.
Swedbank AB (publ) holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Swedbank AB (publ):
Bilia AB (publ) engages in the distribution and service of cars, heavy trucks, and transport vehicles. The company operates through Service, Cars, and Fuels segments. It sells new and used cars primarily of Volvo, BMW, Toyota, Mercedes, Renault, Lexus, MINI, Porsche, Nissan, Dacia, Smart and Alpine cars; and Renault, Toyota, Mercedes, Nissan, and Dacia transport vehicles; and Mercedes heavy trucks. The company also sells petrol, diesel, ethanol, and compressed gas; provides workshop services and spare parts, as well as car dismantling, rim repair, car wash, and wheel sales and storage, store sales and e-commerce; and offers supplementary services, such as financing and insurance services. It operates two online auction sites in Sweden and Norway. The company sells its products through stores and online. It operates approximately 155 facilities in Sweden, Norway, Germany, Luxembourg, and Belgium. The company was incorporated in 1967 and is headquartered in Gothenburg, Sweden.
The NOTE AB (publ) stock price gained 1.28% on the last trading day (Friday, 5th Apr 2024), rising from kr140.10 to kr141.90. During the last trading day the stock fluctuated 4.51% from a day low at kr137.50 to a day high of kr143.70. The price has risen in 6 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 284 thousand more shares were traded than the day before. In total, 333 thousand shares were bought and sold for approximately kr47.19 million.
The NOTE AB (publ) stock holds several negative signals and despite the positive trend, we believe NOTE AB (publ) will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
About NOTE AB (publ):
NOTE AB (publ), together with its subsidiaries, provides electronics manufacturing services in Sweden, Finland, the United Kingdom, Estonia, China, and internationally. The company offers advanced production technology services in close collaboration with customers, such as component selection, developing test equipment, prototyping, and serial production, as well as after-sales services. It also produces PCBAs, sub-assemblies, and box build products. The company primarily serves the medtech, greentech, industrial, and communication industries. NOTE AB (publ) was incorporated in 1999 and is headquartered in Stockholm, Sweden.
The SSAB AB stock price fell by -0.607% on the last day (Friday, 5th Apr 2024) from kr72.46 to kr72.02. During the last trading day the stock fluctuated 1.83% from a day low at kr71.98 to a day high of kr73.30. The price has fallen in 6 of the last 10 days and is down by -6.61% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -672 thousand shares and in total, 974 thousand shares were bought and sold for approximately kr70.16 million.
SSAB AB holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
The Svenska Handelsbanken AB (publ) stock price gained 0.299% on the last trading day (Friday, 5th Apr 2024), rising from kr133.90 to kr134.30. During the last trading day the stock fluctuated 2.27% from a day low at kr131.90 to a day high of kr134.90. The price has fallen in 7 of the last 10 days and is down by -12.22% for this period. Volume fell on the last day by -83 thousand shares and in total, 108 thousand shares were bought and sold for approximately kr14.45 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The Svenska Handelsbanken AB (publ) stock holds several negative signals and despite the positive trend, we believe Svenska Handelsbanken AB (publ) will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
About Svenska Handelsbanken AB (publ):
Addtech AB (publ.) operates as a technology trading company in Sweden, Denmark, Finland, Norway, rest of Europe, and internationally. The company operates through Automation, Electrification, Energy, Industrial Solutions, and Process Technology segments. It markets and sells intelligent solutions, subsystems, and components to industrial automation and infrastructure sector, including solutions for robotics, control systems, sensors, and industrial and communication networks. The company also offers battery systems; connectivity solutions; and intelligent power products, electronics, motors, and powertrain solutions. In addition, it produces and sells products for electricity transmission and electrical installation, as well as safety products for traffic and the home environment; and electricity distribution and communication network products to electricity network operators, contractors, wholesalers, railway companies, industrial customers, and hospitals. Further, the company produces and sells solutions and systems primarily for the forest, special vehicles, mechanical, and waste/recycling industries, as well as provides hydraulic solutions. Additionally, it provides process components, equipment, and systems for creating and processing flows; provides emission control products; and markets and sells instruments and valves for regulating and monitoring pressure, levels, flows, and energy. The company was founded in 1906 and is based in Stockholm, Sweden.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
