OMXS30 index continues to be stuck at 1650 points, despite the fact that we were visited by the salesman on the Wednesday, which took us under the technical nyckelnivån. Storbolagsindexet fell -0.21% to 1649.65 points, when the turnover on the stockholm stock exchange was slightly lower and amounted to 16.7 billion. Today’s trading is expected to once again open somewhat negative, and in the short term, this opens up for a possible return visit by 1640 points…
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Today’s analysis
Wednesday’s trading gave us a dagslägsta at 1642 points, which means that we never challenged the support level at 1640 points.
Since we now have a position in the short-term handelsintervall nom 1630 – 1670 points, we see it only as a negative impact of our positive position if we step in 1630 points, however, especially if we would have such a negative sentiment that we step down and challenge the 1600 points.
When we re-this torsdagsmorgon, like the face of Wednesday’s trading expect to open in low negative territory, there may possibly occur a dejavu during today’s trading.
Maybe it will be a return visit of 1640 points, before we have a clear establishment of 1650 points, to take us further north, with the initially challenging of the kanaltaket at 1670 points…?
Even if the majority of the u.s. leading index on Wednesday closed at low plus, and trade in Asia notes less gains after the night’s trade, we have support from the american semester, the S&P 500 to an opening in the negative territory, which traded slightly negative.
From a shorter perspective, we see in our timdiagram below that, despite a closure on the minus after Wednesday’s trade, we searched for us all the north after the inledningsvisa decline, which in itself is positive…
We see it now rather as we may have experienced temporary profit taking, and perhaps now with a gaining strength for further rise, as we see continued positive signs in our ‘ vapour.
We have no makrobesked which are expected to generate some adverse movements on Thursday. The Bank of England is expected at 13:00 leave an unchanged interest rate announcement, and the focus lands on if you will get a hint on when it may raise interest rates in the future.
We keep the land around 1650 points is positive, despite the fact that we get less short movements to the south intraday, which can then be taken again before closing.
We will also keep us within our previously expected short-term range 1630-1670 is also positive. We have now as we mentioned earlier turned their attention to 1670 points, so long as we maintain the underlying positivity, both in terms of ‘ vapour but also that we will continue to be traded around the current price levels.
We will also continue to be short-term overbought, but as we wrote in Wednesday’s morgonbrev, can it possibly be that we do not see a major profit taking until we stepped up to 1670 points.
We maintain a situation of resistance at 1650, 1670, 1682, followed by the all time high at 1720 points.
Underlying support levels are found primarily in 1630, followed by the sentimental heltalsnivån at 1600 points.
What hålltider and the company reports the next weeks you can read here.
Yesterday’s main börshändelser.
H&M fall on the lower recommendations for the annual general meeting…
Shares fell initially more than 2 percent.
H&M inleddde Wednesday with a decline of over 2 per cent.
The share thus continues to traded in a tight mood, and then the end of the year, we noted a decline at -15%.
Ahead of Wednesday’s annual general meeting, it came early in the morning two reduction recommendations, which gave fuel to the inledningsvisa decline.
Citi Investment Research downgraded to neutral from earlier buy. Riktkursen landed on the 215 kronor, down from sek 290.
Also, Jefferies International downgraded its recommendation for the company to retain from the previous purchase. Even this was reduced riktkursen sharply to 235 kroner, from the previous 310 sek.
This means at the same time that H&M will continue to be noted around the point of equilibrium around 220 bucks…
Oriflame step during heavy intensity after the report.
Earlier awaited consolidation appears to have reached its endpoint…
Kosmetikabolaget Oriflame reported on Wednesday an operating profit of 29.8 million euros in the first quarter of 2017, under the expected 31.4 million, according to a prognossamanställning as the SME Directly made to the report.
In conjunction with the report stated that the company’s sales in the region, the CIS, fell 6 percent in the quarter, as expected, was 1.9 per cent, according to SME direkt.
Also the company’s largest single market, Russia, sales were down 4 percent, as expected, was a decrease of 2.4 per cent.
After the report, which involved an initially decline of over 7 per cent, the share is listed now in the sole support at 335 sek, and challenging its 100-day moving average.
In the past waited for consolidation, now looks to have reached its end, and it looks like we may be on the way to approach us 300 bucks…
Electrolux joins forces at all time high…?
Fell initially more than 2% on Wednesday.
Electrolux and experienced a pleasant journey of just over +20% in the year, had previously received fuel from a strong report in april.
The stock has currently taken a break, just below the heavy resistance level 280, and an all-time high, which, however, fell initially by over 2 per cent on Wednesday to 270.70 crowns.
Then we are not really noted any clear lower bottom then we broke up over 260 euros, is the question of whether we mobilizing before the outbreak of 280 million, for stepping up and note a new all-time high, or if we face a turning point when the weakness presented on Wednesday.
At the same time, it means that on Wednesday, after the decline of challenge in the past kanaltak in the amount of sek handelsintervall, which lasted until the beginning of may…
Hålltider during the day
Company reports
- Sweco (at 7.20), Scandi Standard (7.30), B3IT (8.00), FM Mattsson (8.00), Nibe (8.00), Odd Molly (8.00), Intellecta (at 8.05), Image Systems (at 8.30), Addtech (12.00), Boule Diagnostics (12.00), Actic (at 13.30), Balder (14: 00), Bjorn Borg (at 17.30), Africa Oil (after 22 ), Etrion (before börsöppning), Trention (before börsöppning)
- Starbreeze (8.30), Scandbook (15.00), Addvise, Arocell, DDM Holding, Doxa, Drillcon, Generic, JLT, Kentima Holding (before börsöppning), Lidds, Lightlab, Mackmyra, Maxfastigheter, Section Group, Saniona, Simris Alg, Transtema, Volati
Ex-dividend
- Billerud Korsnäs (4:30 kr.), Bravida (1:25 kr.), Byggmax (2:40 kr.), Firefly (1:20 kr), H&M (4:90 sek semi-annually ), Kinnevik (8:00 sek), Micro Systemation (2:20 kr.), New Wave (1:35 kr), Peab (3:60 kr), Precio Fishbone (1:15 kr), Recipharm (1:50 sek), Scandic Hotels (3:15£), Softronic (0:50 sek), Telenor (4:30 nok in the interim), Troax (3:75 kr), Veidekke (4:50 nok), Xano (4:50 kr)
Macro statistics
- Japan: current-account balance in march at 1.50
- SCB: småhusbarometern april at 9.30 am
- Statistics SWEDEN: CPI april at 9.30 am
- Uk: industrial production march at 10: 30 a.m.
- Uk: NIESR GDP estimate april at 14: 00
- U.S.: PPI april at 14.30
- United states: new job vacancies to unemployed (v 18 at 14.30
- United states: Bloomberg consumer confidence veckoindex at 15: 45
- China: new lending, M2 april
Other
- The ECB monthly report at 10: 00 am
- The EU commission’s spring economic forecasts at 10.00.
- BOE: interest rate announcement and inflation report 13.00
- Oil: Opec monthly report, published at lunchtime
All börshändelser and estimates for the week can be found here!
Latest börsnyheterna
The stockholm stock exchange moved gently down on Wednesday. Against the stream went to the oil companies, encouraged by a rise in the oil price. H&M were pressed for reduced recommendations for the share. Tele2 declined when the share was traded with secluded dividends.
At the time of closing was OMXS30 index down 0.21 per cent at level 1.650. Adjusted for secluded dividends, the decline was 0.15 percent. Shares for 16.7 billion were traded on the stockholm stock exchange.
Brent crude took once again over the 50-dollarsstrecket after the release of the official oljelagerstatistiken in the united states. In the sector rose Lundin Petroleum with more than 1%, while Enquest and Black Pearl rose by between 2.5-3 per cent.
H&M has received two rekommendationssänkningar. Citi has lowered to neutral (buy) and Jefferies has lowered to keep (buy). The H&M share, which topped the sales in Stockholm, declined by around 1 per cent and thus has lost 14 percent since the end of the year.
Oriflame began Wednesday with the lower courses, but recovered as and closed up just under 2 per cent. Operating profit in the first quarter was marginally worse than expected and sales growth of 8%, did not reach the previously tipped favourites +10.7 per cent. Kosmetikabolagets growth so far in the second quarter is around 11 per cent.
Tele2 traded excluding dividend of 5:23 per share. Shares were down nearly 6 per cent, corresponding to 5:55 sek. Also MTG and Lindab traded without the right to dividend on 12%, 1:40 sek per share. MTG fell 4.5 per cent, or 13:40 sek. Lindab went, took into account the separate dividend, however, is in the opposite direction strengthened by the positive riktkursjusteringar and a height recommendation of the SHB to increase from decrease. The share was seen down 0.3 per cent, or 0:30 sek.
Mekonomen’s operating profit of 126 million came in 5% below expectations, and the shares lost 4 per cent.
Also bravida’s report was received with lowered corners of the mouth and its share price retreated about 2 per cent. The company’s organic growth exceeded admittedly förhandstipsen but the operating margin reached not quite up to analysts ‘ forecasts.
Peab was raised less than 3 percent. Sales, order intake and earnings for the company’s utvecklingsdelar exceeded expectations.
Scandic was down 1.4 per cent, despite earnings that exceeded expectations, according to SME Direkt consensus. By far the largest net seller was SEB, who a few weeks before the report lowered its recommendation for the shares to maintain from buy after a period of strong development for the share.
In the opposite direction went Ambea, up 3.5 per cent. Carnegie and Danske bank, which was the adviser at the ipo, has initiated coverage of omsorgsbolaget with the recommendations buy.
Both Björn Borg, Indutrade get the buy recommendations of the Business and the shares step 6 and 0.3 per cent.
The recent pattern with kurstapp for nynoterade companies, both Mantex that Bambuser was weak in last week’s premiere, was reinforced when the Freedesk made his first day on Aktietorget. The company, which sells height adjustable desks were noted to 1:sek 52, compared with the subscription price at 3:50 sek.
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Recent trends (~there is a 06:40)
The OMXS30
EURO STOXX 50
Frankfurt DAX
The London FTSE 100
THE S&P 500
The DJIA
The Nasdaq Comp.
The NIKKEI 225
HANG SENG
EUR/USD
EUR/SEK
USD/SEK
WTI Semester
Brent Semester
1649.65
3645.74
12757.46
7385.24
2399.63
20943.11
6129.14
19978.68
25078.83
1.09
9.69
8.92
47.56
50.46
-0.21%
-0.09%
0.07%
0.59%
0.11%
-0.16%
0.14%
0.39%
0.25%
0.05%
0.05%
-0.04%
0.49%
0.48%
Stock and Technical Analysis each day at 10.00 am
By: Michael Andersson for Tradingportalen/Agency Directly.
Questions and comments always welcome in the newsroom[at]tradingportalen.com
