TGS 31.03.2008

TGS has been in a weak upward movement since end January 2008. There was a top mid-end February of 84.40 NOK but has since then fallen back a bit ending at 74.10 today which was up 1.5% from last traded day. A nice upward moving support trendline has developed along with a downward moving resistance trendline forming a wedge. From the movement within the triangle we can so far say that this is a "valid" wedge. Looking at the RSI chart we see that this coincide well with what we see in the price chart. There seems to be room for an upward movement in the stock price to about 79 -80 NOK where we find the resistance line. There is also room for a fall in stock price back to the support line at about 70 NOK. If you want to buy the stock now put your stop loss at about 70 NOK or just below the support level. This level correspond well with the commonly used stop loss philosophy of applying 1* ATR. You could also wait and see if the stock price falls back to the support line and buy the stock then.

Norske Skogindustrier 28.03.2008

Norske Skogindustrier is a company that are troubled with high debt. This is easily seen in the chart where we see that the stock price has fallen almost constantly since beginning 2007 when the stock price was as high as 118.25 NOK. Today the stock price stopped at 18.00 NOK after being as low as 16.45 NOK 17.03.2008. The question now is if the stock price will rise again soon? From the trendlines we have drawn in the price chart it seems like there is a possibility for the stock price to rise up to about 20 - 21 NOK. At this level we find the falling resistance-trendline. Looking at the RSI chart we also see from this chart that there are room for a rise to about 20 -21 NOK. ADX shows high values so we should not pay too much attention on the actual RSI value of 31 which could indicate that the stock is oversold. The RSI trend-channel drawn in the RSI chart is coinciding with the falling price trend-channel. The stock can be a short term trading object as the stock price could rise to about 20-21 NOK at first. There is a resistance level at about 18.10 NOK so you could buy the stock if there is a breakout from this level, but remember to place your stop loss not too far down at the 17-NOK level. A small support level is also present at about 17.10 NOK. Overall the stock is still in a negative trend but there are some possibilities for doing small successful trades.

OSEBX 17.03.2008

Today we take a look at OSEBX. There was some optimism seen in the market some weeks ago, but the last few weeks all this seems to be gone. Today OSEBX ended at 391.78 after a fall of 3.30%. Looking at the price chart we see that the support level at 391 held today which must be seen as a good signal. Looking at the RSI chart we see that the lower rising trendline was broken. This must be seen as a negative signal, but we believe that RSI will once again rise above this trendline tomorrow, if not it will probably close quite near it. If the 391 level fails 379 is the next support level. As the support level held today there are good indications that there will be a rise for OSEBX tomorrow which would also give OBXEX Derivate Bull a nice day. The resistance levels to look for is 401, 409 and 414.64.

Simtronics 04.03.2008

Today we have picked out Simtronics as our case for technical analysis. After 30.07.2007 when the stock price reached 6.50 NOK the stock price has been in a weak downward moving trend with a so far low at 3.20 NOK 26.11.2007. Today the stock price ended at 4.82 NOK a change from yesterday of +0.2%. This stock is interesting for many reasons. Early last month the negative resistance trendline was broken and became a support trendline. We also see that there is a support level at todays close at 4.82 NOK. This support level become very interesting as we can identify a double bottom defined from this level. There has been a pullback to the support level and if this support holds there is a potential target at 6.46 NOK defined from the double bottom. But we have to look at the RSI also. Here we clearly see that the RSI trendline could not hold and there was a breakout down though it. On the good side we see that RSI is just about to reach the lower rising supportline. It is therefore very exciting to see if the RSI support will hold the coming days . If it does then the target of 6.46 NOK is very realistic. Our recommendation today is therfore to watch closely the days ahead and if the support holds buy the stock. Set your stop loss just below 4.82 NOK and possibly set your profit target at 6.46 NOK. If you are willing to take higher risk buy the stock asap but keep a tight stop loss. The stock price could fall to 4.55 NOK as a first downward movement if the support level do not hold.

OSEBX 29.02.2008

OSEBX has since 22.01.2008 been in a nice upward moving trend. There was a successful breakout from the 410 level a few weeks back and today the 426 support level has held. The resistance level is now found at 443. Looking at the RSI it has also been in a nice upward moving trend, but there is some concerns to be found. The support trend line has been broken which could lead to a fall for OSEBX back to the 410 level the days to come. Mytraderscorner.com are therefore a bit reluctant to the market the coming days, and we would also advice our readers to be so. If we get a fall down to about 410 and the support level holds this can be a good chance for accumulation to positions currently held.