I like OMXSTO:EVO Evolution here. If it can manage long green weekly candles from here it can show strength and I will add to my position. With the OMX30 Stockholm breaking out to All-time-highs I hope Evolution will follow. If it won't show strength here when will it? I will give it a few weeks and exit if it can't push up. I always have a stop as well.
Best of luck!
Evo is an online and media, gamming and lottery company from sweden that is expanding all over the world. Fundamentally sound and with great financial ratios.
Tech wise is doing a clear reverse HaS that should break higher. On a wave analysis it might be in wave 5 of 1 which means you might want to buy now 1,227 for the break of the neck and with a target of...
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A downtrend seems establishing and prices are now consolidating in...
Short term looking for a failed test to break back into to the trend channel. After that we should visit the 760-780 level. Looking at market prodile that area is LVN (Low volume node) wich supports the notion of it being a bouce area. Also it was former resistance in october 2020. And if one lines up a fib retracement structure that "rhymes" with historical pivot...
Looks like this thing is down distrubuting after this absolutely insane run. It's currently holding the local daily support. But i expect that to break. It does not look strong.
Bounce levels are a bit difficult to locate, there is quite a lot of untested levels all across the range.
As well as it being a massive range, makes it more difficult. As of now, i can...
Following an impressive rally from 1330 lows last week price has once again reached and rejected at 1600, after finding support at the 1535 I expect another break-out attempt would clear 1600 and put us on track to previous highs at 1674 and beyond. A retrace towards the 1505-1495 zone might also give a setup next leg up.
BUY
ENTRY: 1590 SEK
TARGET: 2000 SEK (+25%)
STOP: 1378 SEK
1.) The stock is in a solid long-term upward trend above tech support at SEK 481.9
2.) The growth forecast for the coming years is one of the company's strengths.
3.) The profit margins achieved by the company are among the highest of any listed company. The company's business is extremely...
A top in the vincinity of 1395 and 1410 seems fit for the end of eliott wave 3. Wave 4 taking us down to 1152 during summer. Making the leg up wave 5 to end the year at new ATHs in the vincinity of 1500.
$EVO Evolution Gaming
Early mover advantage. Evolution’s lack of competition enables it to rapidly grow in new markets and create a loyal customer base, with high switching costs. The company has effectively grown EBITA margins from 41.6% in 1Q18 to 64.8% in 3Q20. Margin expansion is expected to continue.
Massive untapped markets. Europe is estimated to be around $2.5bn (EVVTY has 50%...
A small trend channel has formed within the larger trend channel. EVO is marching on, strong as ever. If the smaller trend channel's bottom is respected, we might see EVO heading above 700 SEK for good in the near future.
I did an analysis of EVO a week or so ago and I thought the stock would fall back a bit and then gain strength again. It just kept going though. Now, however, it seems that momentum is starting to fade and we might see a slow fade downward, but the upward long trend will definitely continue. Best case would be a confirmation of 617 SEK as support and then another...
In the beginning of this week I took a quick glance at EVO and noted that it was bound to hit the lower trend line which also correlated to a support zone. So I was quite confident an impulse was due and today it happened - it even pierced into the resistance zone which hopefully means it will reach a new high this week and continue its upward trend.
