Norwegian Air Shuttle in this week’s StockCharts365.com analysis!
StockCharts365.com analyzes a well-known company on the Oslo Stock Exchange: Norwegian Air Shuttle ASA (ticker on Oslo Børs: NAS).
The Norwegian share has given interesting technical signals recently, and may be a good buy candidate at the current price level, according to StockCharts365.com. The major Norwegian bank DNB also thinks so. Read more about this below here, after Vikingen Investment School.
First Vikingens Investment School for week 39
The Swedish Riksbank today lowered its interest rate by 0.25 points to 3.25%, which will hopefully encourage both individuals and companies to believe in a positive development in the economy. We choose to stay with our holdings from last week.
Below you will find our comments:
MPC Container Ships we choose to keep. There was a dividend on 9/17 (0.1 USD/share) and the share price rose the same day as the dividend took place.
NVIDIA The share price is starting to move upwards now, a dividend has been announced for 3/10. We choose to keep.
Neobo Fastigheter AB, the share is now trending well upwards. The interest rate cut will benefit the construction and real estate industry.
Compass Therapeutics, (Ticker CMPX), the stock will come into a resistance at $2 level, so then we plan to sell (at 1.95). QMMM (Ticker QMMM) the stock is doing well, high turnover and rising price, we plan to sell when we get a profit (at USD 7).
Inseego (Ticker INSG) we keep this stock, its rising and the BEST model gives a buy signal.
That was this week’s investment school. Feel free to give us feedback and follow us on FB and/or Linkedin.
Below is general information about the company Norwegian Air Shuttle ASA (ticker on Oslo Stock Exchange: NAS)
Norwegian is a leading airline group headquartered in Fornebu, just outside Oslo, Norway. The group has over 8,200 employees and owns two of the leading airlines in the Nordic region: Norwegian Air Shuttle and Widerøe’s Flyveselskap.
Norwegian acquired Widerøe in 2024 with the goal of making it easier for travellers to fully utilise the two airlines’ route networks.
Norwegian has approximately 4,700 employees and offers an extensive route network that connects the Nordic countries with a wide range of destinations in Europe. In 2023 the company carried over 20 million passengers and had a fleet of 87 Boeing 737-800 and 737 MAX 8 aircraft. Widerøe’s Flyveselskap is Norway’s oldest airline and Scandinavia’s largest regional airline.
The airline has over 3,500 employees. Widerøe primarily serves airports with short runways regionally in Norway and in addition to commercial routes, also flies several government contract routes with traffic obligations.
In 2023, the airline had 3.3 million passengers and a fleet of 49 aircraft, of which 45 are Bombardier Dash 8s and three Embraer E190-E2s. Widerøe Ground Handling provides ground handling services at 41 airports in Norway. For more information about Norwegian, visit their website here.
Technical Analysis of Norwegian Air Shuttle ASA (ticker on Oslo Børs: NAS)
The Norwegian stock has broken out of the short term falling trend and has reached the support level at the lower trend line in the long term rising trend that started around two years ago. A buy signal for the stock has been triggered from a minor inverse head and shoulders formation, initially indicating a potential for the stock to the NOK 14.00 level.
The stock has broken above the 50-day moving average, and should the stock rise to the NOK 14.00 level it will also break above the 200-day moving average. A further potential for the share up to NOK 16.00 – 18.00 would then be indicated in the 3-6 month term.
The BEST model in Vikingen also indicates a buy signal for Norwegian
The overall technical picture for the Norwegian share is positive, and the BEST model in Vikingen gives a buy signal for the Norwegian share. This popular and effective technical analysis model was developed by Peter Östevik.
He completed the BEST model around 2019, and after 30 years of experience with technical analysis and Vikingen Financial Software.
What could possibly change the currently positive technical picture for the Norwegian share would be if it were to break down below the 50-day moving average, which is currently around NOK 11.00.
The major bank DNB also has a buy recommendation for Norwegian
StockCharts365.com is not alone in seeing Norwegian shares as an interesting buy candidate now, and recently (September 03) the Norwegian major bank DNB ASA reiterated its buy recommendation on Norwegian Air Shuttle ASA (NAS) and raised its price target to NOK 15.00 from NOK 14.00.
NAS: DNB MARKETS RAISES TARGET PRICE TO 15 FROM 14, REITERATES BUY 3 Sep. 08:56 Source: TDN Finans Oslo (Infront TDN Direkt): DNB Markets raises its price target on Norwegian Air Shuttle to NOK 15 per share, from NOK 14, and reiterates a buy recommendation.
This is stated in an update from the brokerage house on Tuesday 03. September.
DNB has increased its earnings per share estimate for 2024 by 3 percent, and for 2025 by 11 percent, reflecting better than expected traffic statistics in July and slightly revised fuel price assumptions.
So to summarize: there are many indications that Norwegian is an interesting stock to invest in now.
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Vikingen Investment School started May 13th 2024.
We have chosen to invest SEK 10,000 and hope that you will join us to learn how to become rich(er) in the stock market.
Our ambition is that you will want to join us on our journey from beginner to experienced investor.
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