Breakout Stocks of Week 12 @ OMXH
NASDAQ was up last week (week 11) by 2.68% ending at 16,401.84 points after gaining 428.66 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 Nokia Corporation OMXH:NOKIA. This stock has had a buy signal since Mar 21, 2024 when the price was 3.29€ , but have so far fallen -0.106% to 3.29€. Some other companies are on our watchlist to, among these are Sampo Oyj OMXH:SAMPO and Qt Group Oyj OMXH:QTCOM which all got a breakout pattern emerging.
| Date | Company | Price | Week 12 |
|---|---|---|---|
| Nokia Corporation | 3.29€ | 3.29€ | 0.137% |
| Sampo Oyj | 40.36€ | 39.52€ | -2.09% |
| Qt Group Oyj | 74.66€ | 76.50€ | 2.46% |
The Nokia Corporation stock price fell by -0.106% on the last day (Friday, 22nd Mar 2024) from 3.29€ to 3.29€. During the last trading day the stock fluctuated 1.53% from a day low at 3.27€ to a day high of 3.32€. The price has risen in 6 of the last 10 days but is still down by -0.99% for this period. Volume has increased on the last day by 110 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, 11 million shares were bought and sold for approximately 34.70€ million.
Nokia Corporation 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 Nokia Corporation:
Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. It offers products and services for radio access networks covering technologies from 2G to 5G, and microwave radio links for transport networks. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, and cloud and virtualization services, as well as wi-fi portfolio, including mesh solutions and cloud-based controllers; IP routing solutions for IP aggregation, and edge and core applications for residential, business, mobile, and industrial services; a portfolio of optical networks comprising portfolio coherent optical transponders, optical transport network switchers, wavelength-division multiplexers, reconfigurable optical add-drop multiplexer solutions, and optical line systems for metro access and aggregation, data center interconnect, regional, and long-haul/ultra-long-haul applications; and submarine networks. In addition, it offers business applications software, cloud and cognitive services, core networks software, and enterprise solutions. Further, the company provides hardware, software, and services, as well as licensing of intellectual property, including patents, technologies, and the Nokia brand. It serves communications service providers, webscales, hyperscalers, digital industries, and government. Nokia Oyj was founded in 1865 and is headquartered in Espoo, Finland.
The Sampo Oyj stock price fell by -0.198% on the last day (Friday, 22nd Mar 2024) from 40.44€ to 40.36€. During the last trading day the stock fluctuated 1.25% from a day low at 40.13€ to a day high of 40.63€. The price has risen in 6 of the last 10 days and is up by 1.28% 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 -73 thousand shares and in total, 450 thousand shares were bought and sold for approximately 18.14€ million.
Sampo 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 Sampo Oyj:
Sampo Oyj, through its subsidiaries, provides life and non-life insurance products and services in Finland, Sweden, Norway, Denmark, and the Baltic countries. It operates through If, Topdanmark, Hastings, Mandatum, and Holding segments. The company offers household, homeowner, motor, accident, travel, boat, forest, livestock, property, casualty, liability, car, van, bike, and cargo insurance. It also provides life, individual and group pension, home and content, illness, animal, electronics, change of ownership, workers' compensation, rewards, marine, aviation, and transport insurance, as well as wealth management and asset management services. Sampo Oyj was founded in 1909 and is based in Helsinki, Finland.
The Qt Group Oyj stock price gained 0.188% on the last trading day (Friday, 22nd Mar 2024), rising from 74.52€ to 74.66€. During the last trading day the stock fluctuated 2.33% from a day low at 73.04€ to a day high of 74.74€. The price has fallen in 6 of the last 10 days and is down by -5.73% for this period. Volume fell on the last day by -48 thousand shares and in total, 33 thousand shares were bought and sold for approximately 2.47€ 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 Qt Group Oyj stock holds several negative signals and despite the positive trend, we believe Qt Group Oyj will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
About Qt Group Oyj:
Qt Group Oyj develops, productizes, and licenses software development tools under commercial and open source licenses Finland, Norway, Germany, the United States, Japan, China, South Korea, France, the United Kingdom, and India. It offers Qt Design Studio, a user interface design and development tool for applications; Qt Creator, a cross-platform integrated development environment for application development; and Qt Framework that contains C++ library classes and APIs offers cross-platform development solutions. The company also provides professional, consulting, training, partner, and support services. It offers its services to automotive, industrial automation, consumer electronics, and medical industries. The company is headquartered in Espoo, Finland.
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.
