Breakout Stocks of Week 27 @ OSE
NASDAQ was up last week (week 26) by 0.244% ending at 17,732.60 points after gaining 43.24 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 PetroNor E&P Limited OSE:PNOR. This stock has had a buy signal since Jun 27, 2024 when the price was kr9.84 and is so far up 1.42% to kr9.98. Some other companies are on our watchlist to, among these are Austevoll Seafood ASA OSE:AUSS Ensurge Micropower Asa OSE:ENSU Sparebanken Vest OSE:SVEG and Bouvet ASA OSE:BOUV which all got a breakout pattern emerging.
| Date | Company | Price | Change |
|---|---|---|---|
| Petronor E&p Limited | kr9.98 | kr10.14 ( 2nd Jul 2024 ) | 1.60% |
| Austevoll Seafood Asa | kr82.80 | kr84.30 ( 2nd Jul 2024 ) | 1.81% |
| Ensurge Micropower Asa | kr1.35 | kr1.34 ( 2nd Jul 2024 ) | -0.385% |
| Sparebanken Vest | kr125.50 | kr131.60 ( 2nd Jul 2024 ) | 4.86% |
| Bouvet Asa | kr63.00 | kr63.40 ( 2nd Jul 2024 ) | 0.635% |
The PetroNor E&P Limited stock price gained 1.42% on the last trading day (Friday, 28th Jun 2024), rising from kr9.84 to kr9.98. 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 2.34% from a day low at kr9.81 to a day high of kr10.04. The price has risen in 8 of the last 10 days and is up by 6.97% over the past 2 weeks. Volume fell on the last day by -69 thousand shares and in total, 274 thousand shares were bought and sold for approximately kr2.74 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.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for PetroNor E&P Limited stock to perform well in the short-term.
The Austevoll Seafood ASA stock price gained 0.669% on the last trading day (Friday, 28th Jun 2024), rising from kr82.25 to kr82.80. During the last trading day the stock fluctuated 3.48% from a day low at kr80.35 to a day high of kr83.15. The price has been going up and down for this period, and there has been a -2.7% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 49 thousand more shares were traded than the day before. In total, 241 thousand shares were bought and sold for approximately kr19.93 million.
Austevoll Seafood ASA holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Austevoll Seafood ASA:
Austevoll Seafood ASA, a seafood company, engages in the salmon and trout, white fish, and pelagic businesses in Norway, the European Union, the United Kingdom, Eastern Europe, Africa, Asia, North America, South America, and internationally. The company is involved in the ownership and operation of fishing vessels, as well as farming, aquaculture, processing, sale, and distribution of salmon and trout. It also produces white fish products, freezing and canning plants, fish meals, and fish oils; omega-3 oil; and canned and frozen fish products. The company was incorporated in 1981 and is headquartered in Storebø, Norway. Austevoll Seafood ASA is a subsidiary of Laco AS.
The Ensurge Micropower Asa stock price gained 1.12% on the last trading day (Friday, 28th Jun 2024), rising from kr1.34 to kr1.35. During the last trading day the stock fluctuated 6.07% from a day low at kr1.28 to a day high of kr1.36. The price has fallen in 7 of the last 10 days and is down by -11.18% for this period. Volume fell on the last day by -12 million shares and in total, 4 million shares were bought and sold for approximately kr5.15 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.
Ensurge Micropower Asa 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.
The Sparebanken Vest stock price fell by -0.0319% on the last day (Friday, 28th Jun 2024) from kr125.54 to kr125.50. During the last trading day the stock fluctuated 1.01% from a day low at kr125.02 to a day high of kr126.28. The price has been going up and down for this period, and there has been a -0.06% loss for the last 2 weeks. Volume has increased on the last day by 767 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, 24 thousand shares were bought and sold for approximately kr3.06 million.
The Sparebanken Vest stock holds several negative signals and despite the positive trend, we believe Sparebanken Vest will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
About Sparebanken Vest:
Sparebanken Vest, a financial services company, provides banking and financing services in the counties of Vestland and Rogaland, Norway. It operates through Corporate Market, Retail Market, Bulder Bank, Treasury, and Estate Agency Activities segments. The company is also involved in the estate agency and home mortgage activities. As of December 31, 2020, it had 33 points of sale outlets. The company was founded in 1823 and is headquartered in Bergen, Norway.
No changes to the price of Bouvet ASA stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 0.96% from a day low at kr62.50 to a day high of kr63.10. The price has been going up and down for this period, and there has been a -0.94% loss for the last 2 weeks.
The Bouvet ASA stock holds several negative signals and despite the positive trend, we believe Bouvet ASA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
About Bouvet ASA:
Bouvet ASA provides information technology, digital communication, and enterprise management services in Norway, Sweden, and internationally. The company designs, develops, and provides advisory services on IT solutions and digital communication. Bouvet ASA was founded in 2002 and is based in Oslo, Norway.
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.
