Hexagon Purus ASA – in this week’s analysis from StockCharts365.com
This week, StockCharts365.com looks at an interesting company on the Oslo Stock Exchange: Hexagon Purus ASA (ticker on Oslo Børs: HPUR)
The overall technical picture for the stock is positive and the stock may have significant potential in the short term.
Read more about the technical analysis below of Hexagon Purus ASA (HPUR) by StockCharts365.com.
First, let’s review Vikingens Investment School for week 38
The US Fed is finally about to cut interest rates. We choose to stay low until the situation stabilises and we keep the investments from last week. Below you will find our comments.
MPC Container Ships we choose to keep, the share has fallen somewhat, but not as much as one would expect (5%) ahead of an upcoming stock dividend
NVIDIA The stock looks like the stock market in general, there are both signals that show that it will rise and those that show the opposite. But most of the signals are still in favour of buying. So we are keeping NVIDIA for now.
Neobo Fastigheter AB the long-term upward trend for Neobo is not broken. We keep.
Compass Therapeutics, (Ticker CMPX), the stock is trending nicely upwards. Will hit a resistance at $2, so then we plan to sell (at 1.95).
QMMM (Ticker QMMM) the uptrend has not been broken yet in the short term, but we will sell when we have gained a small profit, at USD 7.
Inseego (Ticker INSG) stock is on its way up from a bowl formation and has good upside potential. We keep.
That was this week’s investment school. Feel free to give us feedback and follow us on FB and/or Linkedin.
And now back to the company, Hexagon Purus ASA (HPUR)
Hexagon Purus is active in the manufacturing industry. The company is developing complete vehicle systems.
The product portfolio is broad and mainly includes high-pressure cylinders and battery packs for fuel cell and battery-powered vehicles. In addition to the main business, aftermarket service, support and maintenance are offered. Customers are found in the automotive industry. The business operates on a global level, with the largest presence in the European market.
For more information about the company, visit their Websites.
Technical Analysis of Hexagon Purus ASA (HPUR)
The Hexagon Purus (HPUR) share has triggered several positive technical signals recently, and further increase is signaled for the share in the short term. The stock is in a long term falling trend, but now further upward movement is signaled to test the resistance level at the upper trend line in this long term falling trend, around NOK 16.00.
The share ended yesterday, Monday 16. September 2024, at NOK 10.32 and the stock may thus have significant potential in the short term (1-3 months). A rising trend has been established for the stock in the short term, and the stock has broken above both the 50-day and 200-day moving averages.
Initially, a rise to the NOK 16.00 level is signaled for the Hexagon Purus share.
Furthermore, the 50-day moving average has broken above the 200-day moving average. This is called the ‘Golden Cross Signal’, which is a strong positive technical signal that signals that both the short-term and medium-term trend for the stock has turned from negative to positive. There is now significant technical support for the stock around the NOK 8.00 – 9.00 level, including the 50-day and 200-day moving averages.
A right-angled rising triangle consolidation formation has been established for the stock, and a break above the NOK 11.00 level will trigger new positive technical signals for the stock. There will then be little technical resistance for further rise until around the NOK 16.00 level. A break above the NOK 16.00 level and out of the long term falling trend will trigger a new strong buy signal for the stock, which may then have potential up to around NOK 30.00 – 40.00. In the first instance, a further rise to around the NOK 16.00 level is signaled for the Hexagon Purus share. Various momentum indicators such as RSI, Stochastics and MACD also signal further upside for the share in the short term.
The BEST model in Vikingen also indicates a buy signal for Hexagon Purus
The overall technical picture for the Hexagon Purus share is positive, and the BEST model in Vikingen also indicates a buy signal for the share. This popular and effective technical analysis model was developed by Peter Östevik. He finalised the BEST model around 2019, and after 30 years of experience with technical analysis and Vikingen Financial Software.
What is Vikingen Investment School?
Vikingen Investment School started 13. May 2024.
We have chosen to invest SEK 10,000 and hope that you will join us to learn how to get rich(er) in the stock market.
Our ambition is that you will want to join us on our journey from beginner to experienced investor.
If you have more than SEK 10,000 to invest, it’s of course even more interesting, but the principles are the same.
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Sincerely, Catrin Abrahamsson-Beynon
