Breakout Stocks of Week 11 @ OMXI
NASDAQ was down last week (week 10) by -0.696% ending at 15,973.17 points after falling -111.94 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 Marel hf. OMXI:MAREL. This stock has had a buy signal since Mar 15, 2024 when the price was 473.00 Íkr , but have so far fallen 0% to 473.00 Íkr. Some other companies are on our watchlist to, among these are which all got a breakout pattern emerging.
| Date | Company | Price | Week 11 |
|---|---|---|---|
| Marel Hf. | 473.00 Íkr | 459.00 Íkr | -2.96% |
The Marel hf. stock price fell by -0.211% on the last day (Friday, 15th Mar 2024) from 474.00 Íkr to 473.00 Íkr. During the last trading day the stock fluctuated 0.85% from a day low at 469.00 Íkr to a day high of 473.00 Íkr. The price has been going up and down for this period, and there has been a -1.05% 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 -1 million shares and in total, 390 thousand shares were bought and sold for approximately 184.68 Íkr 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 Marel hf. stock to perform well in the short-term period.
About Marel hf.:
Marel hf. develops, manufactures, sells, and distributes processing equipment, systems, software, and services for poultry, meat, and fish industries. The company's Poultry Processing segment offers integrated systems, software, and services for processing broilers, turkeys, and ducks. Its Meat Processing segment provides processing equipment, systems, software, and services of pork, beef, veal, and sheep. The company's Fish Processing segment offers equipment, systems, software, and services for farmed and wild salmon and whitefish processing. It sells in Europe, the Middle East, Africa, the Americas, Asia, and Oceania. The company was founded in 1977 and is based in Garðabær, Iceland.
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.
