Wallenstam has after a long period of kraftansamling aggressive resistance around 76kr… which opens up for further rise against the 92kr. Any reconciliation of 76kr from the top makes an ideal entry level for a purchase.
Wallenstam traded within a long-term rising trendkanal where kanalbotten support the profit taking and kanaltaket indicates a need for a andhämtningsfas. The share has since december 2014 been traded in a sidåtgående movement between 59 and 76kr. Within this consolidation, the share price had plenty of time to gather the force which makes the forcing process of intervalltaket two weeks ago, has good potential to lead to a lasting movement on the top.
When the shares are traded on all time highs there is no natural resistance in the form of previous highs which makes the share particularly interesting. An ideal buy level is around the support at 76kr, then a stop loss in this scenario can be placed narrowly in relation to uppgångspotentialen.
The emergency exit is placed preferably at a closing on a weekly basis in 74kr. Målkurs is set to 91.50£.
Would the share the against all odds show weakness by significant shut down during the utbrottsnivån, the risk is elevated for a false buy signal, with the attendant decline, supported by utbrottshandlare that are positioned incorrectly. In this scenario is expected to decline against the 70kr in the first place.
The stock is traded over the long-term rising 40-week moving average.
The stock is traded on the stockholm stock exchange, under the symbol of the WALL B.
Wallenstam
Entrance buy
76-77kr
Ticker
WALL B
Målkurs
91.50 £
Market
The OMXS Large Cap
Emergency exit
74kr
P/E
7.2
Latest
78.85 £
Direct avk.
2.2%
