The Stockholm Stock Exchange’s broad index, OMXSPI, was down by 0.29% on Monday, closing at 1000 points. The index is currently in an upward trend channel in the medium term, ranging between support at 966 points and resistance at 1010 points. On the short-term chart, resistance is also identified at 1003 points. Breaking through these levels is crucial for predicting future price movements.
Investtech’s short-term Bull Index is currently at 50, indicating a balance between pessimism and optimism in the market. This index ranges from 0 to 100 and shows the percentage of stocks on the Stockholm Stock Exchange that have had a buy signal as their last signal. A value between 45-55 suggests equilibrium between pessimists and optimists. On a long-term basis, the index stands at 48, indicating a balance between optimists and pessimists in the market.
Investtech’s Insider Barometer reflects the number of buy and sell transactions conducted by insiders in companies listed on the stock exchange. In the last month, there have been 407 buys and 85 sells, resulting in a buy ratio of 83%. The annual buy ratio is 79%. Historically, stocks with strong insider trading tend to outperform the market.
Overall, OMXSPI is technically weakly positive in the medium term (1-6 months). However, the proximity to support and resistance levels means that the technical outlook can change rapidly. Long-term investors are advised to stay invested in the market.
Investtech’s recommendation: Weakly positive.
Doro and AcadeMedia Show Positive Signals, Tethys Oil Struggles
Tech company Doro has recently received new technical buy signals, indicating a positive trend from a technical and quantitative perspective. The stock has broken through resistance at 25.50 SEK, now acting as a new support level, signaling further upside potential. High volume during peaks and low volume during troughs confirm the positive trend. The RSI value above 70 indicates strong positive momentum in the stock.
Education company AcadeMedia is also showing positive signs, with the stock breaking through the upper limit of an upward trend channel in the medium term. The lack of resistance and strong positive volume balance support the bullish trend, with momentum being strongly positive in the short term.
On the other hand, energy company Tethys Oil is facing technical challenges, trading in a downward trend channel in the medium term. The stock recently broke through a key support level, now acting as resistance, with two sell signals identified. A strong negative volume balance suggests aggressive selling pressure, weakening the stock from a technical perspective.
Investtech’s recommendations:
- Doro: Buy
- AcadeMedia: Buy
- Tethys Oil: Sell
About Investtech’s Analysis
Investtech has been developing algorithms for technical analysis of stocks since 1997, offering daily updated buy and sell recommendations for stocks on the Stockholm Stock Exchange. Their algorithms identify optimal trend channels, support and resistance levels, and price formations for short, medium, and long-term investment horizons, providing valuable insights for investors.
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