Nokian Renkaat Oyj

TYRES
Delayed NASDAQ OMX HELSINKI LTD. - 12/13 05:29:54 pm
24.82EUR
+0.85%

Nokian Renkaat Oyj : Good timing based on weekly price data

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Jordan Dufee
Analyst

Strategy published on : 12/02/2019 | 04:14

long trade
Stop-loss triggered

Entry price : 24.82€
Target : 27€
Stop-loss : 24€
Potential : 8.78%

Nokian Renkaat Oyj shares are sitting close to an important technical support area around 22.58 EUR based on weekly price data. Against this backdrop, investors can use this good timing for new long positions.
Investors have an opportunity to buy the stock and target the € 27.

Summary

● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.

● The company has solid fundamentals for a short-term investment strategy.


Strengths

● Share prices are approaching a strong support area in daily data, which offers good timing for investors.

● The company returns high margins, thereby supporting business profitability.

● Thanks to a sound financial situation, the firm has significant leeway for investment.

● The group usually releases upbeat results with huge surprise rates.

● Its low valuation, with P/E ratio at 8.59 and 13.42 for the ongoing fiscal year and 2020 respectively, makes the stock pretty attractive with regard to earnings multiples.

● This company will be of major interest to investors in search of a high dividend stock.

● For the last twelve months, analysts have been gradually revising upwards their EPS forecast for the upcoming fiscal year.


Weaknesses

● Revenue estimates are regularly revised downwards for the current and coming years.

● For the last twelve months, sales expectations have been significantly downgraded, which means that less important sales volumes are expected for the current fiscal year over the previous period.

● The technical configuration over the long term remains negative on the weekly chart below the resistance level at 28.47 EUR

Zonebourse.com 2019
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