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Today, 10 July 2024, StockCharts365.com has taken a closer look at Orkla ASA (ORK), and which has triggered a strong buy signal. The potential can be 25-40% during the next 9-12 months.


[10 July 2024]


Today, 10 July 2024, StockCharts365.com has taken a closer look at Orkla ASA (ticker on Oslo Børs: ORK).


Perhaps not the most 'sexy' share on the Oslo Stock Exchange, but now the technical picture for the share indicates that it may have a pleasant potential, and with relatively moderate risk as this is not one of the most volatile shares on the exchange.


The potential is assessed to be up around 25-40% from today's share price at NOK 86.00, and within the next 9-12 months.


It must be said to be a very nice potential, and for a good old trotter share on the Oslo Stock Exchange: Orkla ASA (ticker: ORK).


Read more about this below in the case here.


 

First a little about the company: Orkla ASA (ticker on the Oslo Stock Exchange: ORK)


Creating sustainable value through active ownership of brands and consumer companies.


Orkla ASA is a leading industrial investment company. Its scope of activity is brands and consumer-oriented companies. At present, Orkla has 11 portfolio companies. Orkla has a long-term, industrial approach to its portfolio companies.


We invest in companies where we can contribute to further value creation through our industry expertise, consumer insight and experience in building leading brands. Through active portfolio management we target fast-growing consumer segments and markets.


Orkla ASA is listed on the Oslo Stock Exchange.


For more information about the company, visit their website here:



 

Technical Analysis of Orkla ASA (ticker on Oslo Stock Exchange: ORK)

Charts are from the technical analysis program Vikingen.


Technical Analysis of Orkla ASA (ticker on Oslo Stock Exchange: ORK):


Orkla (ORK) shows a positive development in both the short and long term within an upward trend.


The share has moved within a long-term trend going all the way back to 2009 (cf. monthly chart).


A strong technical buy signal has recently been triggered for the share, and after breaking up from an inverted head and shoulders formation (cf. monthly chart).


The potential for the share according to this buy signal is initially up to around NOK 100.00.


In accordance with the long-term positive trend in which the share is moving, a further rise is now signaled for the share to around NOK 110.00 - 120.00 during the next 9-12 months.


So a potential of between 25-40% up from today's share price at NOK 86.00, and in 9-12 months' time.


The share now finds solid technical support around NOK 80.00 - 84.00, and where there is also support at the 50-day moving average.


StockCharts365.com's own long-term analysis model 'The SignalList' has also recently triggered a buy signal for Orkla (ORK).


Furthermore, momentum indicators such as RSI and Stochastics indicate that the share is probably facing further growth now in the short term.


MACD momentum indicator is also close to triggering a buy signal now for Orkla (ORK).


The overall technical picture for Orkla (ORK) is assessed as very positive, and further price rises are signaled for the share in both the short and medium term.


 

NB! Remember to have read and understood the disclaimer.

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