OMX Nordic 40 (OMXN40) - Momentum is improving

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01/24/2019 | 05:35 pm
North European stocks are part of the global recovery of indices. Of the 40 values making up the OMX Nordic, the vast majority of them are green. Among the notable performances, it is worth highlighting the Danish company DSV (transport), which is up 20%. Finnish companies followed suit with three values all between 17 and 18%. It includes Stora Enso (wood), Neste (oil) and UPM-Kymmene (paper).
The two largest companies, the Swedish Astrazeneca and the Norwegian Novo Nordisk (around 80 billion euros each) are starting the 2019 financial year calmly with performances of -1.5% and +4% respectively.

Technically in daily data, prices come back to the 1480 points, a resistance zone already tested several times over the last 5 months. A dynamic crossing of the 1500 points would be required to extend the current movement and target the 1590 points. In the event of a failure of the buyer consensus, a legitimate decline could be put in place and allow the index to move closer to the 20- and 50-day moving averages located to date at around 1440 points.

Patrick Rejaunier 2019
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