JM has since just before the summer’s gone on properly with the pisk, and a large part of their market value from the year high. After nedställ and negative cases in technological intensity, with further negative sentiment around the housing market has JM now after all reached an attractive turning point from a technical perspective…
Get Minianalys Swedish Shares automatically to your e-mail every day before the stock market opens!
JM rose initially during the 2017 to to note a peak of just under 340 dollars. Then came the start which took us down to the 220 sek for a challenging Thursday.
A sharp utvädring and profit taking, in tune with investors pådrivits a negative sentiment when the housing market exhibits tendencies on the difficulties, at the same time as ränteklimatet may be about to shift next year.
In the short term, we think, however, that JM scored as well as some pressure on the downside, and a bit undeserved, the very force which now hit a bottom, in terms of the level of support from the previous consolidation just over a year ago, with significantly with volume.
We see an attractive turning point today at sek 220, which points to a recoil and recovery to 245 kronor initially. In the long term, if the strength is increased and the reporting period is spreading joy, well then there may be space for the return and rise to sek 260.
It would turn out, arise difficulties to re-establish a positive, continuing the momentum from buyers in such a scenario, we limit a possible drop and nedsida by tentatively placing a stop loss at 212.00 dollars. In such a mode increases-namely, the risk of a challenging and breakthrough of the support level at 210, test sentimental heltalsnivån at 200 sek.
Last month indicate a slowdown in the Swedish housing market, the News agency reported Directly as part of the statistics for the period 11 september to 8 October from bostadssöktjänsten Booli, which collects data from the Swedish mäklarhusen.
”You can see that the market has slowed down with fewer bidders and bids, as well as more price cuts,” said press officer Matilda Adelborg on Booli.
This strengthens our faith that in the long term, there is a risk of continued weakness, but at the same time, we find ourselves in a situation where JM received undue pressure on the downside, and that we technically see an attractive turning point for a short-term recovery.
JM leaving the interim report for the third quarter of 2017, October 26.
The stock is traded on the stockholm stock exchange, under the symbol MO.
The OMXS Large Cap
Click on the link for more information about ”Focus, strategy and ansvarsbeskrivning”
“Learn to support Yourself on Your Trading – a complete three-day course!” – see the next course!
More about technical analysis:
- Common concepts in technical analysis
- Moving averages – lagging indicator, which filters out the noise
- MACD – technical indicator, which fits well into the trends
- RSI – a classic momentumindikator that is a ”must” in swingtrading