Analysis of Week 41 by Stockcharts.com – Essity
This week StockCharts365.com has taken a closer look at Essity
Essity is a stock in a strong rising trend on the Stockholm Stock Exchange. Essity AB Ser. B (ticker on Nasdaq Stockholm ESSITY B). The overall technical picture for the share is positive, and after a recent consolidation, the share now seems ready for a further rise within the long-term rising trend. Read more about this below under the technical analysis of the Essity share.
First Vikingen Investment School for week 41
The Swedish economy is taking some time to ease up, it is particularly slow in the labor market. We in Vikingen choose to act as below, the decisions made using several models in Vikingen, including the BEST model.
Below you will find our comments for this weeks actions:
MPC Container Ships we choose to keep. Good share in the longer term.
NVIDIA the stock is starting to move upwards and last week we saw a symmetrical triangle formation (i.e. falling tops and rising bottoms) indicating buy/hold.
We choose to keep Neobo Fastigheter AB, the stock still shows a nice upward trend.
Compass Therapeutics, (Ticker CMPX) the stock has fallen back beginning of this week. We sell and make a small profit.
QMMM (Ticker QMMM) We are selling (at USD 7.10) and taking a small profit.
Questerre Energy Corp (QEC) We keep this stock, but we watch it.
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 Essity
The name Essity comes from the English words “essentials” and “necessities”. Hygiene and health are central to human well-being. As a leading global hygiene and health company, Essity offers products and services that make a difference in people’s lives every day. That’s why we’re called Essity. Essity is listed on Nasdaq Stockholm and in 2023, Essity had net sales of approximately SEK 147 billion (EUR 13 billion) and 36,000 employees. Sales take place in approximately 150 countries under the globally leading brands TENA and Tork as well as other strong brands such as Actimove, Cutimed, JOBST, Knix, Leukoplast, Libero, Libresse, Lotus, Modibodi, Nosotras, Saba, Tempo, TOM Organic and Zewa.
For more information about Essity, visit their website
Technical Analysis of Essity AB
(ticker on Nasdaq Stockholm: ESSITY B)
The Essity share is showing strong development within a long-term rising trend. Further upside is signaled for the stock within the rising trend and a new turn up for the stock may be imminent. The stock has consolidated recently and is now finding technical support around the SEK 310.00 level and at the 50-day moving average. At the same time, various momentum indicators such as RSI and Stochastics are signaling that a new upturn for the stock may be imminent. Looking at the bigger picture for the stock, it has moved within a very large rectangle formation dating back to 2018, and between a technical support level around SEK 220.00 and a technical resistance level around SEK 310.00-320.00. An established break above the SEK 320.00 level would trigger a very strong technical buy signal for the Essity share, indicating a potential for the share to reach as high as SEK 450.00 – 500.00.
The BEST model in Vikingen also shows a buy signal for Essity
The BEST model in Vikingen is giving a buy signal for Essity. This popular and effective technical analysis model was developed by Peter Östevik. He finalized the BEST model around 2019, and after 30 years of experience with technical analysis and Vikingen Financial Software.
The overall technical picture for the Essity share is positive
The technical picture for the Essity share is positive and the rising trend is now signaling a further rise for the share. An established break above the SEK 320.00 level will trigger a very strong technical buy signal for the Essity share. What could change the current positive technical picture for the Essity share would be an established break downwards below the 50-day moving average and below a technical support level around the SEK 294.00 level. So to summarize: StockCharts365.com considers Essity to be an interesting stock to bet on now.
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