Breakout Stocks of Week 9 @ OMXH
NASDAQ was up last week (week 8) by 1.74% ending at 16,274.94 points after gaining 278.12 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 Huhtamäki Oyj OMXH:HUH1V. This stock has had a buy signal since Feb 29, 2024 when the price was 36.31€ and is so far up 0.716% to 36.57€. Some other companies are on our watchlist to, among these are which all got a breakout pattern emerging.
| Date | Company | Price | Week 9 |
|---|---|---|---|
| Huhtamäki Oyj | 36.57€ | 37.45€ | 2.41% |
| Orion Oyj | 36.61€ | 35.95€ | -1.80% |
The Huhtamäki Oyj stock price gained 0.716% on the last trading day (Friday, 1st Mar 2024), rising from 36.31€ to 36.57€. 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 1.65% from a day low at 36.37€ to a day high of 36.97€. The price has been going up and down for this period, and there has been a -4.24% loss for the last 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 129 thousand shares were bought and sold for approximately 4.70€ 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.
Huhtamäki 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 Huhtamäki Oyj:
Huhtamäki Oyj manufactures and sells packaging products in the United States, Germany, India, the United Kingdom, Australia, Thailand, China, South Africa, Russia, the United Arab Emirates, Findland, and internationally. It operates in foodservice packaging, flexible packaging, and fiber packaging business areas. The company offers single and double-wall paper cups, coffee cups, cold drinks cups, cup carriers, lids, accessories, and short run prints of customized paper cups; take away trays, containers, clamshells, scoops, bowls, wraps, and various accessories for take-away and dining; and egg trays, egg cartons, fruit trays, and wine bottle separators. It also provides multilayer films, wrappers, labels, pouches, and various reclose and print options for coffee, tea, juice, energy drink, and alcoholic beverage packaging; and stand up pouches, food pouches, multilayer packaging, and foils for ice cream, soups, biscuits, confectionary, dry foods, and other retail foods. In addition, the company offers ready-to-eat pet food packaging, such as retort pouches and barrier laminates, as well as open and reclosable bags, and pouches in aluminum foil and non-foil transparent structures; packaging and labels for personal and home care products; tube laminates for toothpaste and other tubes; and blister packaging materials and pharmaceutical packaging. Further, it provides catering disposables and vending cups; food service paper and disposable tableware to foodservice operators, fast food restaurants, and coffee shops; packaging solutions for retail business; flexible packaging solutions. Huhtamäki Oyj was founded in 1920 and is headquartered in Espoo, Finland.
The Orion Oyj stock price gained 0.577% on the last trading day (Friday, 1st Mar 2024), rising from 36.40€ to 36.61€. During the last trading day the stock fluctuated 1.69% from a day low at 36.04€ to a day high of 36.65€. The price has fallen in 8 of the last 10 days and is down by -8.43% for this period. Volume fell on the last day by -261 thousand shares and in total, 195 thousand shares were bought and sold for approximately 7.13€ 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 Orion Oyj stock holds several negative signals and despite the positive trend, we believe Orion Oyj will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
About Orion Oyj:
Orion Oyj develops, manufactures, and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients (APIs) in Finland, Scandinavia, other European countries, North America, and internationally. It provides prescription drugs and self-care products, including Nubeqa for the treatment of prostate cancer; dexdor and Precedex for intensive care sedative; Stalevo and Comtess/Comtan for Parkinson's disease; Simdax for acute decompensated heart failure; and Fareston for breast cancer, as well as Salmeterol/fluticasone Easyhaler, Budesonide/formoterol Easyhaler, Formoterol Easyhaler, Budesonide Easyhaler, Beclomet Easyhaler, and Buventol Easyhaler drugs for the treatment of asthma and chronic obstructive pulmonary disease. The company also offers veterinary drugs comprising Bonqat, Clevor, Domosedan, Domitor, Antisedan, Dexdomitor, Domosedan Gel, Sileo, and Tessie; and APIs for generic and proprietary drugs, as well as provides contract manufacturing services. In addition, it markets and sells veterinary drugs manufactured by other international companies. The company serves various healthcare service providers and professionals, such as specialist and general practitioners, veterinarians, pharmacies, hospitals, healthcare centers, clinics, and laboratories, as well as consumers with pets. Orion Oyj has partnership with Propeller Health to connect the Easyhaler(R) product portfolio for the treatment of asthma and COPD; and a research collaboration and license agreement with Alligator Bioscience AB (publ) to discover and develop new bispecific antibody cancer therapeutics. Orion Oyj was founded in 1917 and 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.
