Breakout Stocks of Week 17 @ OMX
NASDAQ fell hard last week and was down all -5.52% ending at 15,282.01 points after ending the week prior at 16,175.09 points. The sharp fall could pose a good buying opportunity. 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 AB Sagax (publ) OMX:SAGA-B. This stock has had a buy signal since Apr 18, 2024 when the price was kr265.80 , but have so far fallen -0.0752% to kr265.60. Some other companies are on our watchlist to, among these are L E Lundbergforetagen AB (publ) OMX:LUND-B Ratos AB (publ) OMX:RATO-B NCC AB (publ) OMX:NCC-B and OEM International AB (publ) OMX:OEM-B which all got a breakout pattern emerging.
| Date | Company | Price | Week 17 |
|---|---|---|---|
| Ab Sagax (publ) | kr265.60 | kr272.60 | 2.64% |
| L E Lundbergforetagen Ab (publ) | kr539.50 | kr544.00 | 0.83% |
| Ratos Ab (publ) | kr34.58 | kr35.36 | 2.26% |
| Ncc Ab (publ) | kr130.20 | kr131.00 | 0.614% |
| Oem International Ab (publ) | kr97.60 | kr104.00 | 6.56% |
The AB Sagax (publ) stock price fell by -0.0752% on the last day (Friday, 19th Apr 2024) from kr265.80 to kr265.60. During the last trading day the stock fluctuated 1.91% from a day low at kr262.40 to a day high of kr267.40. The price has been going up and down for this period, and there has been a -2.64% loss for the last 2 weeks. 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 -73 thousand shares and in total, 104 thousand shares were bought and sold for approximately kr27.62 million.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for AB Sagax (publ) stock to perform well in the short-term.
About AB Sagax (publ):
AB Sagax (publ) operates as a property company in Sweden, Finland, France, the Netherlands, Germany, and Spain. The company invests in commercial properties primarily in the warehouse and light industry segment. As of December 31, 2021, its property portfolio consisted of 673 properties with a rental space of 3,759,000 square meters. The company was incorporated in 1995 and is based in Stockholm, Sweden.
The L E Lundbergforetagen AB (publ) stock price fell by -0.461% on the last day (Friday, 19th Apr 2024) from kr542.00 to kr539.50. During the last trading day the stock fluctuated 1.22% from a day low at kr534.50 to a day high of kr541.00. The price has been going up and down for this period, and there has been a -3.4% loss for the last 2 weeks. 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 -31 thousand shares and in total, 77 thousand shares were bought and sold for approximately kr41.72 million.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
About L E Lundbergforetagen 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.
The Ratos AB (publ) stock price fell by -0.80% on the last day (Friday, 19th Apr 2024) from kr34.86 to kr34.58. During the last trading day the stock fluctuated 2.54% from a day low at kr33.86 to a day high of kr34.72. The price has risen in 6 of the last 10 days and is up by 0.64% over the past 2 weeks. 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 -163 thousand shares and in total, 368 thousand shares were bought and sold for approximately kr12.73 million.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Ratos AB (publ) stock to perform well in the short-term period.
About Ratos 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.
The NCC AB (publ) stock price gained 2.20% on the last trading day (Friday, 19th Apr 2024), rising from kr127.40 to kr130.20. During the last trading day the stock fluctuated 4.48% from a day low at kr125.00 to a day high of kr130.60. The price has fallen in 7 of the last 10 days and is down by -11.07% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 267 thousand more shares were traded than the day before. In total, 419 thousand shares were bought and sold for approximately kr54.62 million.
NCC AB (publ) 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.
About NCC 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.
No changes to the price of OEM International AB (publ) stock on the last trading day (Friday, 19th Apr 2024). During the last trading day the stock fluctuated 1.87% from a day low at kr96.20 to a day high of kr98.00. The price has fallen in 5 of the last 10 days and is down by -4.31% for this period.
OEM International AB (publ) 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.
About OEM International 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.
