Breakout Stocks of Week 10 @ OMXH
NASDAQ was down last week (week 9) by -1.17% ending at 16,085.11 points after falling -189.83 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 KONE Oyj OMXH:KNEBV. This stock has had a buy signal since Mar 08, 2024 when the price was 42.93€ , but have so far fallen 0% to 42.93€. Some other companies are on our watchlist to, among these are which all got a breakout pattern emerging.
| Date | Company | Price | Week 10 |
|---|---|---|---|
| Kone Oyj | 42.93€ | 42.97€ | 0.0932% |
| Nokian Renkaat Oyj | 8.41€ | 8.12€ | -3.42% |
The KONE Oyj stock price fell by -0.763% on the last day (Friday, 8th Mar 2024) from 43.26€ to 42.93€. During the last trading day the stock fluctuated 1.43% from a day low at 42.78€ to a day high of 43.39€. The price has fallen in 8 of the last 10 days and is down by -8.07% for this period. Volume has increased on the last day by 30 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 343 thousand shares were bought and sold for approximately 14.71€ million.
KONE Oyj 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 KONE Oyj:
KONE Oyj, together with its subsidiaries, engages in the elevator and escalator business worldwide. It offers elevators, escalators, and automatic building doors. The company also provides maintenance services; modernization solutions; and various residential solutions. In addition, it offers KONE Office Flow, a connected solution that allows for personalized user experiences and touch-free access; health and well-being solutions for elevators, escalators, and doors; KONE Residential Flow, a smarter building solution for the movement of people, goods, and information; KONE Access, an access control system, which is integrated with elevator system and building doors; KONE Destination, a destination control system that reduce waiting and travel times; KONE infotainment, a communication channel for building tenants and visitors; and monitoring solutions that enable real-time inspection of elevators and escalators. Further, the company provides people flow planning and consulting services; and solutions for special buildings and large projects. KONE Oyj was founded in 1908 and is based in Espoo, Finland.
The Nokian Renkaat Oyj stock price gained 0.143% on the last trading day (Friday, 8th Mar 2024), rising from 8.40€ to 8.41€. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.35% from a day low at 8.31€ to a day high of 8.42€. The price has been going up and down for this period, and there has been a -0.38% loss for the last 2 weeks. Volume fell on the last day by -59 thousand shares and in total, 388 thousand shares were bought and sold for approximately 3.26€ 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.
Nokian Renkaat Oyj 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.
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.
