Breakout Stocks of Week 19 @ OMXH
NASDAQ was up last week (week 18) by 1.43% ending at 16,156.33 points after gaining 228.43 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 Nokian Renkaat Oyj OMXH:TYRES. This stock has had a buy signal since Apr 29, 2024 when the price was 8.62€ , but have so far fallen -5.22% to 8.17€. Some other companies are on our watchlist to, among these are which all got a breakout pattern emerging.
| Date | Company | Price | Change |
|---|---|---|---|
| Nokian Renkaat Oyj | 8.17€ | 8.17€ ( 3rd May 2024 ) | 0% |
The Nokian Renkaat Oyj stock price gained 2.00% on the last trading day (Friday, 3rd May 2024), rising from 8.01€ to 8.17€. During the last trading day the stock fluctuated 2.11% from a day low at 8.05€ to a day high of 8.22€. The price has fallen in 7 of the last 10 days and is down by -9.69% for this period. Volume fell on the last day by -562 thousand shares and in total, 759 thousand shares were bought and sold for approximately 6.20€ 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 Nokian Renkaat Oyj stock holds several negative signals and despite the positive trend, we believe Nokian Renkaat Oyj will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
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.
