Breakout Stocks of Week 9 @ OMXI
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 Kvika banki hf. OMXI:KVIKA. This stock has had a buy signal since Feb 05, 2024 when the price was 17.00 Íkr , but have so far fallen -8.53% to 15.55 Íkr. Some other companies are on our watchlist to, among these are Reitir fasteignafelag hf. OMXI:REITIR and Brim hf. OMXI:BRIM which all got a breakout pattern emerging.
| Date | Company | Price | Week 9 |
|---|---|---|---|
| Kvika Banki Hf. | 15.55 Íkr | 15.20 Íkr | -2.25% |
| Reitir Fasteignafelag Hf. | 82.50 Íkr | 81.00 Íkr | -1.82% |
| Brim Hf. | 79.60 Íkr | 79.80 Íkr | 0.251% |
The Kvika banki hf. stock price gained 0.323% on the last trading day (Friday, 1st Mar 2024), rising from 15.50 Íkr to 15.55 Íkr. During the last trading day the stock fluctuated 1.29% from a day low at 15.55 Íkr to a day high of 15.75 Íkr. The price has risen in 5 of the last 10 days but is still down by -2.51% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately 113.11 Íkr million.
The Kvika banki hf. stock holds several negative signals and despite the positive trend, we believe Kvika banki hf. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
About Kvika banki hf.:
Kvika banki hf., a specialized bank, provides investment banking, insurance, asset management, and banking services to businesses, investors, and individuals in Iceland and the United Kingdom. It operates through four segments: Asset Management, Commercial Banking, Insurance Services, and Investment Banking. The Asset Management segment manages various mutual funds, investment funds, and institutional investor funds, as well as offers private banking services; offers products and services relates to domestic and foreign assets; and private pension plans. The Commercial Banking segment provides various banking services and related advisory services, and specialized lending services; lease contracts; and car, heavy machinery, and other equipment loans to individuals and companies under Lykill brand name. The Insurance Services segment portfolio consists of motor, property, marine, liability, accident, and life insurance services to commercial and private customers. The Investment Banking segment offers securities brokerage and forex market services; and various investments and financing, mergers, acquisitions and divestments, capital raising, and initial public offerings related advisory services, as well as fund and asset management services. It also provides real estate fund management and business consultancy services. Kvika banki hf. was incorporated in 2002 and is headquartered in Reykjavik, Iceland.
The Reitir fasteignafelag hf. stock price gained 0.610% on the last trading day (Friday, 1st Mar 2024), rising from 82.00 Íkr to 82.50 Íkr. During the last trading day the stock fluctuated 0.606% from a day low at 82.50 Íkr to a day high of 83.00 Íkr. The price has fallen in 5 of the last 10 days and is down by -3.51% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 600 thousand more shares were traded than the day before. In total, 669 thousand shares were bought and sold for approximately 55.21 Íkr million.
The Reitir fasteignafelag hf. stock holds several negative signals and despite the positive trend, we believe Reitir fasteignafelag hf. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
About Reitir fasteignafelag hf.:
Reitir fasteignafélag hf. engages in the rental of commercial properties in Iceland. The company's property portfolio includes retail, shopping, industrial, office, and hotel real estate properties. It owns 135 properties covering an area of approximately 445,000 square meters. The company was incorporated in 2008 and is based in Reykjavik, Iceland.
No changes to the price of Brim hf. stock on the last trading day (Friday, 1st Mar 2024). During the last trading day the stock fluctuated 1.51% from a day low at 79.60 Íkr to a day high of 80.80 Íkr. The price has fallen in 6 of the last 10 days and is down by -4.56% for this period.
The Brim hf. stock holds several negative signals and despite the positive trend, we believe Brim hf. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
About Brim hf.:
Brim hf. operates as a seafood company in Iceland. It sells various seafood products that include ground fish; and pelagic fish, such as kolmuni, herring, redfish, cod, and haddock, as well as fish drying and fish roe. The company also engages in the demersal fish processing, freezing of pelagic fish, flour and lysis processing, and roe processing. It offers its products primarily in Europe, Asia, and North America. The company was formerly known as HB Grandi hf. and changed its name to Brim hf. in August 2019. Brim hf. was founded in 1985 and is based in Reykjavik, 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.
