[13 August 2024]
Today, Tuesday 13 August 2024, StockCharts365.com has taken a closer look at an exciting technology company on the Nasdaq Stockholm stock exchange.
The company that StockCharts365.com has taken a closer look at here is the Swedish technology company, Sinch AB (ticker on the Nasdaq Stockholm stock exchange: SINCH).
The Sinch-share (SINCH) has had some tough years on the Nasdaq Stockholm Stock Exchange in recent years now, and where the share has fallen from a peak of around SEK 200.00 in August 2021, and down to around SEK 14.00 in September 2022.
The share is currently traded at around SEK 25.00, and the company has a market cap with today's share price of around SEK 21.4 billion.
Could there be a really strong short squeeze soon in Sinch AB SINCH)?
That can then drive the share up sharply, and within a short time.
According to an overview from 09 August 2024, Sinch AB (SINCH) was number 10 of the 15 most shorted shares on the Stockholm Stock Exchange.
First a little about the company Sinch AB (ticker on the Nasdaq Stockholm Stock Exchange: SINCH)
"Pioneering the way the world communicates
At Sinch, we’ve got big dreams, and we make great things happen — for our teams, our customers, and their customers. Driven by bold ambitions and simplicity, we’re pioneering the way the world communicates, helping people and businesses build stronger connections and paving the way for what's next in cloud communications.
Sinch is pioneering the way the world communicates. More than 150,000 businesses – including many of the world's largest tech companies – rely on Sinch’s Customer Communications Cloud to improve customer experience through mobile messaging, voice and email. Our shares are listed on Nasdaq Stockholm under the ticker ‘SINCH’".
For more information about the company, visit their website here:
Technical Analysis of Sinch AB (ticker on the Nasdaq Stockholm Stock Exchange: SINCH)
Charts are from the technical analysis program Vikingen.
Technical Analysis of Sinch AB (ticker on the Nasdaq Stockholm Stock Exchange: SINCH):
After a very sharp decline from August 2021 to September 2022, and where the share, as mentioned, fell from around SEK 200.00 to around SEK 14.00. Today, the share is traded around SEK 25.00. So the stock has now over the past two years or so established a very large Symmetrical triangle formation. Should there be a break from this large symmetrical triangle formation, a strong technical buy signal for the share will be triggered. Looking at the shorter picture, the stock has broken out of a falling wedge formation, and also seems to be about to break above both the 50-day and 200-day moving averages. There is considerable technical support for the share around the SEK 24.00 - 25.00 level, and where there is, among other things, technical support down towards the 50-day moving average.
The share has also recently entered a buy signal according to StockCharts365.com's own analysis model 'The SignalList'.
Although such a strong technical buy signal has not yet been triggered for the Sinch-share, StockCharts365.com believes that this is a share that may be well worth keeping a close eye on going forward now.
Should there be such a break from this large symmetrical triangle formation, what will be indicated by potential for the share is marked with blue dashed lines in the weekly chart.
The potential for the share will then be up to around SEK 100.00 - 120.00 in 1-2 years' time. In other words, a significant potential will then be triggered for the share, which is currently traded at around SEK 25.00.
What could potentially trigger negative technical signals for the share would be if it had an established break down below the SEK 24.00 and 21.00 levels. This will then trigger a technical sell signal for the share.
NB! Remember to have read and understood the disclaimer.
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