Stockholmsbörsens OMXSPI Index Soars by 1.17% – Positive Outlook Ahead
The broad Stockholm index, OMXSPI, had a positive day on Monday, closing at 972 points, marking a 1.17% increase. After a five-day downward trend, the index turned upwards. A rising trend has been identified in the medium term technical analysis. However, the price development has been mostly horizontal since spring, with 1010 points being a significant resistance level. Currently, the support at 966 points is being tested. A move below this level would further weaken the technical outlook, while a move above would be positive.
Investtech’s short-term Bull Index stands at 43 today. The index ranges from 0 to 100 and is an optimism indicator showing the percentage of stocks on the Stockholm Stock Exchange with buy signals as the last signal. A value between approximately 45-55 indicates a balance between pessimists and optimists. On a long-term basis, the index stands at 45. This suggests a balance between optimists and pessimists in the long term and a slight overweight of pessimists in the short term.
Investtech’s Insider Barometer shows the number of buy and sell transactions made by insiders in the stock market. In the last month, there have been 445 buys and 126 sells, resulting in a buy ratio of 78 percent. The annual buy ratio is 79 percent. Research by Investtech shows that stocks strong in insider trading statistically outperform the market.
Overall, OMXSPI is technically neutral in the medium term (1-6 months). However, the proximity to support and resistance levels means that the technical outlook can change rapidly. We recommend long-term investors to always be invested in the market.
Investtech’s recommendation: Neutral.
Axfood Shows Strong Technical Trends – Buy Recommendation
Axfood, operating in the grocery retail sector, is technically sound. Investtech’s algorithms have identified a rising trend channel in the medium term price chart, signaling increasing optimism among investors who have been willing to pay higher prices for the stock. Rising trends are a reliable buy signal according to Investtech’s research findings.
The stock has support around 258 kronor and faces resistance around 310 kronor. Axfood has a positive outlook based on Investtech’s insider analysis and is technically positive for a medium-term investment horizon (1-6 months).
Investtech’s recommendation: Buy.
Sectra’s Security Solutions Position Strongly – Buy Signal Identified
Sectra, specializing in security solutions for medical technology and cybersecurity, is technically promising. The stock price is moving in a rising trend channel on the medium-term price chart, indicating a good performance for the company. A buy signal from an inverted head and shoulders formation was identified on September 5th, signaling a continued uptrend. With no resistance as the stock trades at an all-time high, the price has support around 207 kronor. A strong positive volume balance confirms the positive trend, and the momentum is strongly positive in the short term.
Sectra B is technically positive for a medium-term investment horizon (1-6 months).
Investtech’s recommendation: Buy.
Volvo Cars Faces Technical Challenges – Sell Recommendation
Volvo Cars is in a technically negative position, with the stock price down over 30% in the last quarter. The price has broken through the floor of the falling trend channel identified by Investtech’s algorithms on the medium-term price chart.
Further decline is indicated according to Investtech’s research on breaking through falling trends. A stronger downward trend is expected, and a sell signal was identified from a head and shoulders formation in May, with the target price at 25.16 kronor now surpassed. The lack of support as the last support level around 25.70 kronor is broken indicates a transformation of the support level into a new resistance level.
A strong negative volume balance suggests aggressive selling and passive buying, confirming the negative trend and weakening the stock from a technical perspective. An RSI below 30 shows strong negative momentum in the short term. Overall, Volvo Cars is weakly positive in Investtech’s insider analysis but is technically negative for a medium-term investment horizon (1-6 months).
Investtech’s recommendation: Sell.
Investtech’s Analysis Method
Since 1997, Investtech has developed algorithms for technical analysis of stocks and the identification of buy and sell signals, offering daily updated recommendations for stocks on the Stockholm Stock Exchange. Each day, Investtech’s algorithms identify the most optimal trend channels, support and resistance levels, and price formations on short, medium, and long-term investment horizons.
With a vast dataset growing daily, Investtech has researched the development of buy and sell signals from these technical indicators, providing extensive statistics on trends, among others.
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