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Analysis: sell signal triggered in the Nordea…

The Nordea share has triggered a sell signal from a huvudskuldra toppformation after an unsuccessful utbrottsförsök by the peaks from 2015. Prisobjektivet indicates continuation of the decline against the 81kr.

The Nordea share has like the other major banks showed technical weakness by breaking nyckelstödet at 100, which throughout 2017 acted as a crossroad between bull and bear. The share is allowed to trade underneath a shorter period of time, in order to ascertain a possible säljintresse, followed by a return upward at the end of the week and close above. This relationship was intact until the month of november when the shares for the first time on a weekly basis and closed significantly below that, which triggered a sell signal.

During december and January showed the share a reaction on the soluble säljsignalen which took the share price marginally above the utbrottsnivån, then for a short time had the chance to söndergrusa nedgångsscenariot. This uppgångschans is now completely blown away by the share recorded a new lowest note, which increases the odds that prisobjektivet from toppformation is on its way to being fulfilled.

When the stock market as a whole showed sign of weakness, it may be advantageous to initiate a blankningsposition for further decline. An optimal säljläge occurs when a reaction between the 96 – 98kr. Målkurs is set to 81.50 ce, the emergency exit is placed preferably at a veckostängning above the 101.50 £

The share is traded under the long-term falling 40-week moving average.

Nordea Bank

Entrance sell
96-98kr
Ticker
THE NDA SEK

Målkurs
81.50 £
Market
The OMXS Large Cap

Emergency exit
101.50 £
P/E
12.7

Latest
92.06 kr
Direct avk.
7.1%

The stock is traded on the stockholm stock exchange, under the symbol NDA SEC.