Breakout Stocks of Week 22 @ OMXI
NASDAQ was up last week (week 21) by 1.33% ending at 16,920.80 points after gaining 222.47 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 Syn hf. OMXI:SYN. This stock has had a buy signal since May 17, 2024 when the price was 41.00 Íkr , but have so far fallen -6.83% to 38.20 Íkr. Some other companies are on our watchlist to, among these are which all got a breakout pattern emerging.
| Date | Company | Price | Week 22 |
|---|---|---|---|
| Syn Hf. | 38.20 Íkr | 35.60 Íkr | -6.81% |
The Syn hf. stock price gained 0.526% on the last trading day (Friday, 24th May 2024), rising from 38.00 Íkr to 38.20 Íkr. During the last trading day the stock fluctuated 2.63% from a day low at 38.00 Íkr to a day high of 39.00 Íkr. The price has fallen in 5 of the last 10 days and is down by -10.33% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 467 thousand more shares were traded than the day before. In total, 907 thousand shares were bought and sold for approximately 34.63 Íkr million.
Syn hf. holds several negative signals and is within a very 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 Syn hf.:
Sýn hf. provides communication and media service in Iceland. The company operates radio station under the Vodafone, Stöð 2, Stöð 2 Sport, Visi, Biljana, FM957, and X977 brands. It offers a subscription-based television network, and advertisement services. The company was formerly known as Fjarskipti hf. and changed its name to Sýn hf. in April 2018. Sýn hf. was incorporated in 2005 and is headquartered in Reykjavík, 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.
