Breakout Stocks of Week 12 @ OMXI
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 Skeljungur hf. OMXI:SKEL. This stock has had a buy signal since Mar 22, 2024 when the price was 16.00 Íkr , but have so far fallen 0% to 16.00 Íkr. Some other companies are on our watchlist to, among these are which all got a breakout pattern emerging.
| Date | Company | Price | Week 12 |
|---|---|---|---|
| Skeljungur Hf. | 16.00 Íkr | 16.20 Íkr | 1.25% |
| Sjova-almennar Tryggingar Hf. | 40.60 Íkr | 39.40 Íkr | -2.96% |
The Skeljungur hf. stock price gained 3.90% on the last trading day (Friday, 22nd Mar 2024), rising from 15.40 Íkr to 16.00 Íkr. During the last trading day the stock fluctuated 3.23% from a day low at 15.50 Íkr to a day high of 16.00 Íkr. The price has fallen in 6 of the last 10 days and is down by -3.03% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 511 thousand more shares were traded than the day before. In total, 533 thousand shares were bought and sold for approximately 8.53 Íkr million.
Skeljungur hf. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
About Skeljungur hf.:
Skel fjárfestingafélag hf., together with its subsidiaries, imports, distributes, and sells oil, lubricants, chemical products, fertilizers, and other products and services to companies and farmers. The company is also involved in the retail and wholesale trade of other commodities. In addition, it engages in lending and other activities; and operates real estate properties, as well as vessels and service stations. The Company operates under the Skeljungur, Orkan, Kvikk, 10-11, Extra, and Löður brand names; and operates 70 fuel stations, 7 grocery shops, 15 laundry stations, and 4 oil depots. The company was formerly known as Skeljungur hf. Skel fjárfestingafélag hf. was founded in 1928 and is based in Reykjavík, Iceland.
The Sjova-Almennar tryggingar hf. stock price fell by -0.490% on the last day (Friday, 22nd Mar 2024) from 40.80 Íkr to 40.60 Íkr. During the last trading day the stock fluctuated 0% from a day low at 40.60 Íkr to a day high of 40.60 Íkr. The price has fallen in 5 of the last 10 days and is down by -2.4% for this period. Volume has increased on the last day by 153 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, 860 thousand shares were bought and sold for approximately 34.93 Íkr million.
The Sjova-Almennar tryggingar hf. stock holds several negative signals and despite the positive trend, we believe Sjova-Almennar tryggingar hf. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
About Sjova-Almennar tryggingar hf.:
Sjóvá-Almennar tryggingar hf. operates as an insurance company in Iceland. The company offers motor vehicle, family and home, life and critical illness, and medical cost insurance products for individuals. It also provides commercial insurance products, such as fire and commercial property insurance; public and product liability, employer's liability, directors and officers liability, professional indemnity, and commercial liability insurance; operation interruption insurance; vessel crew, hull and machinery, and catch and fishing gear/tackle insurance; vessel cargo, transport cargo, and purse seine insurance; baggage, sickness and accidents on travelling, and cancelation insurance; and insurance products for employees and leaders. The company is based in Reykjavík, Iceland. Sjóvá-Almennar tryggingar hf. was founded in 1918 and is a subsidiary of SF1 slhf.
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.
