Many will probably change their positions in Norwegian fish farming companies to Bakkafrost after a bill on resource taxation. Most people were not aware that the political risk in the salmon industry was so great in Norway.
Trend lines and pivot lines are determined by a longer time horizon than current charts in a year.
Bakkafrost is located in a falling trend channel. It is seen by the chart and the long Moving Averages.
From late September, the stock is in a short rising trend. It is supported by SMA 7.
The volume balance is negative two months behind. Volume is falling from a peak end September. On Balance Volume flat development in 28 days.
RSI 21 rising from September and now around 60.
Marginal break up at 530.5. Support around 494.5 and resistance around 584.5
Oscillators and Moving Averages stand one day on bay, one week on neutral and one month on sell.
Consider the stock technically positive in the short term and neutral on the medium time horizon.
Note here it is preferably a technical analysis, but fundamental analysts have a more positive view of the stock especially after it was pulled down when the other salmon stocks on the Oslo Stock Exchange fall.
Bakkafrost used to be among the most efficient operators (ebit/kg), but since acquisition they have struggled with operations in Scotland.
Remember that you need to do your own research and assessment before buying and selling.
Disclaimer: I hold a position in the stock.
Sources:
Trading View
www.bakkafrost.com/e...ird-quarter-of-2022/
Trend lines and pivot lines are determined by a longer time horizon than current charts in a year.
Bakkafrost is located in a falling trend channel. It is seen by the chart and the long Moving Averages.
From late September, the stock is in a short rising trend. It is supported by SMA 7.
The volume balance is negative two months behind. Volume is falling from a peak end September. On Balance Volume flat development in 28 days.
RSI 21 rising from September and now around 60.
Marginal break up at 530.5. Support around 494.5 and resistance around 584.5
Oscillators and Moving Averages stand one day on bay, one week on neutral and one month on sell.
Consider the stock technically positive in the short term and neutral on the medium time horizon.
Note here it is preferably a technical analysis, but fundamental analysts have a more positive view of the stock especially after it was pulled down when the other salmon stocks on the Oslo Stock Exchange fall.
Bakkafrost used to be among the most efficient operators (ebit/kg), but since acquisition they have struggled with operations in Scotland.
Remember that you need to do your own research and assessment before buying and selling.
Disclaimer: I hold a position in the stock.
Sources:
Trading View
www.bakkafrost.com/e...ird-quarter-of-2022/