The OMXS30 stepped further to the north on Tuesday, which was storbolagsindexet to note a new high for the year at 1657.50 points. Finally we got a closing at 1653 points, while turnover on the stockholm stock exchange amounted to sek 17 billion. Leading futures, however, point to an opening in the negative territory, which means that we are expected to step back in the technical nyckelnivån 1650 points.
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Today’s analysis
With three trading days in a row with the closure on the plus side, we have experienced slightly increasing köpstyrka.
The OMXS30 managed to step over 1650 points already initially, that got storbolagsindexet to achieve a dagshögsta at 1657.50 points later in the afternoon.
However, we did not have a significant turnover in line with that, we stepped over 1650, which in itself increased the risk of a brief outbreak.
Leading futures pointing after the night that we can start the day in negative territory. Even the u.s. S&P 500 semester exhibit a mood in line with this, which strengthens our belief in an initially opening around half a percent down.
This would mean that now when we became short-term overbought on Tuesday, now that the Wednesday may come to partly leave this territory, at the same time as less profit then expected to lead to a step back during the 1650 points.
However, we do not see it as a turning point, but rather a temporary break, unless we begin to move further south during the heavy sales value.
Our sole resistance level have thus shifted to the level of support, but at the same time, it means that if we open below this level, we remain with the 1650 as resistance level.
We noted a new high for the year in line with turnover increased slightly against the previous trading days, at the same time, as we experienced slightly higher köpvolym, we see as a positive sign for the potential further rise in the card.
After just three trading days in a row on the plus side, it is not very surprising that if we get a certain amount of breath and profit taking, before the journey continues further north.
The probability that we can come to visit 1670 points within the card, has grown and we continue to hold a positive trend in the long term, while short-term slowly but surely get further to the north.
We highlighted the space for 2-3 trading days, before we saw a high probability for less rebound and profit taking, it now looks instead like it might come to pass on Wednesday, on the early sentiment remains from last night’s trading in Asia, which are trading in slightly negative territory.
On Wednesday, will not some makrobesked of the heavier character, which is expected to contribute to volatility in the stock market.
The current technical resistance levels await, thus, at 1650, 1670, followed by 1682 and sentimental 1700, before the challenging of the previous all time high of 1720 points on the map.
The underlying technical support levels can be found 1640 followed by both the 1630, but above all 1600 points.
What hålltider and the company reports the next weeks you can read here.
Yesterday’s main börshändelser.
Soon time for Ericsson to break up…?
Major efforts have been underway since the end of February.
Ericsson has continued to experience concentration and a clear handelsintervall in the 56-60 crowns since the end of February.
The outbreak of the intensity and kanalgolvet at the end of april was briefly when both MA 100 and 200, put an end, at the same time as the rebound back into the range, has meant a journey where we are now noted above the MA 50.
Significant volume has been built up at the resistance at 60 sek, which means that this increases the likelihood of a greater movement to the north, at the establishment of the resistance level.
Maybe it is time for Ericsson to finally break up? If köpstyrkan not manage to provide fuel to the clear establishment of 60 sek, we are primarily an eye on the support level at sek 56, and kanalgolvet in the handelsintervall we are now experiencing.
BillerudKorsnäs challenges the heavy intensity after the accident in the Mill.
Breaks at the same time through the kanalgolv in the descending handelsintervallet…
BillerudKorsnäs falls initially over 4 percent on Tuesday.
The fuel for the decline is a major accident in the boiler of the semi-chemical pulp in the pulp line in the Mill.
”At this time it is not possible to estimate the economic damages and the impact on deliveries to customers, but it will have a significant impact on the current quarterly results. We will revert with further information when we know what the effect will be”, commented the company’s ceo Per Lindberg.
The decline means that the stock breaks below the kanalgolvet in the descending handelsintervallet, at the same time as the heavy support level around sek 135 challenged seriously.
Would the sales force remain, increasing the risk for potentially revisiting of the next heavy support level at sek 120.
The renewal of the fuel in Sandvik after the buy recommendation.
Step early on Tuesday over 1 per cent…
After briefly challenging of kanalgolvet in Sandvik, in the handelsintervall has been going on since a while back, found the share of support to the renewed upswing, which meant that the share price has risen 2 days in a row.
Since the end of the year, the shares have now risen over 20 per cent, and in a year’s time has also risen over 70%.
Handelsbanken raised Sandvik to buy from the previous increase on Tuesday, and adjusted at the same time up riktkursen to 170 crowns.
”Sandvik will benefit from efficiency measures and a cyclical boost during a time in the future, but the growth rate will stagnate then omstruktureringsvinsterna decline, economic growth drops and competing emerging technologies (such as 3D marking technology) is being industrialised,” said the bank in connection with this recommendation.
Hålltider during the day
Company reports
- Ambea (at 7.00), Wilson Therapeutics (8.00), MSC Group (8.30), Lundberg’s (12.30 pm), Bioinvent (before börsöppning), Bong, Sensys Gatso (before börsöppning)
- Cisco (after the united states-the exchange closing)
Ex-dividend
- Kabe (5:00 sek), the Kindred (0:31 pounds), Pegroco (0:29 sek in the common stock), Prime Living (305.000 usd in preference shares (C ), Rottneros (0:30 sek + extra 0:10 sek)
Macro statistics
- Japan: machinery orders in march at 1.50
- Japan: industrial production (def) march at 6.30
- Uk: unemployment rate april at 10.30
- EMU: construction march at 11.00
- EMU: CPI (def) april at 11.00
- USA: oil stocks (DOE), weekly statistics at 16.30
Other
- The oslo stock exchange helgstängd
All börshändelser and estimates for the week can be found here!
Latest börsnyheterna
The stockholm stock exchange made no more noise on Tuesday, but traded fairly close to zero. The major european exchanges, however, showed a somewhat mixed bag. Sandvik steps for a height recommendation for the company while Boliden had a heavier day among large corporations.
OMXS30 index ended up 0.2 per cent to the level of 1.653. Shares for 17 billion were traded on the stockholm stock exchange.
”The stock market traded in a lågvolatil uptrend with the support of the continued low interest rates and strong reporting period. Soft forward-looking indicators like purchasing managers ‘ indices have long been at high levels, and provided support to the earnings expectation. Now we also want to see that hard data such as industrial production coming up”, commented Erik Hansén, market analyst at IG, the News agency Directly.
Industry statistics from the USA showed that vitvaruleveranserna, according the loins of aham 6, increased by nearly 14 per cent in april. Swedbank described the aprilsiffran as much better than expected. Statistics is important for Electrolux. The stock rose 1.3 per cent.
Sandvik climbed 2.1 per cent. Handelsbanken has upgraded its recommendation for the shares to buy from increase. The fourth industrial revolution with the more self-organizing factories should be able to do the engineering company even better, according to the bank.
Boliden, noted a decline of 0.7%. Lundin Mining rose, however, by 2.6 percent, while SSAB was up marginally.
Astra Zeneca, which had a strong development since last Friday with the support of positive outcomes for immunterapiläkemedlet Imfinzi and solve förvärvsspekulationer in the british media continued up almost 1 percent.
Billerud Korsnäs was affected by a major accident regarding a pulp mill in Gruvön, with a significant impact on earnings in the second quarter. The share were punished with a decline of 3 percent.
The gaming company THQ Nordic, more than doubling the result on the last line in the first quarter. Shares were rewarded with a rise of 15 per cent.
Kabe dropped just over 1 percent. That the company improved its turnover and its profit was enough, apparently not.
Bostadsutvecklaren Bonava held a capital markets day in Berlin. The share declined similarly, just over 1 percent.
Nanologica plummeted by a staggering 27 per cent after announcement that the company postpone its target of positive cash flow from december 2017 to the second half of 2018. The background is a weak försäljningsstart in India.
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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
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WTI Semester
Brent Semester
1653.06
3641.89
12804.53
7522.03
2400.67
20979.75
6169.87
19795.61
25299.75
1.11
9.73
8.77
48.57
51.25
0.20%
0.00%
-0.02%
0.91%
-0.07%
-0.01%
0.33%
-0.62%
-0.14%
0.15%
-0.04%
-0.19%
-0.88%
-0.77%
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
