Nibe Industrier B (NIBEB.ST)

Short term

Nibe Industrier B has broken the floor of the rising trend channel in the short term, which indicates a weaker initial rising rate. The stock is approaching support at 45.00 kronor, which may give a positive reaction. However, a break downwards through 45.00 kronor will be a negative signal. RSI is below 30 after the falling prices of the past weeks. The stock has strong negative momentum and further decline is indicated. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The stock is overall assessed as technically positive for the short term.

Recommendation one to six weeks: Positive (Score: 73)

Medium term

Nibe Industrier B is in a falling trend channel in the medium long term. This shows that investors over time have sold at lower prices to get out of the stock, and indicates negative development for the company. The stock is moving within a rectangle formation between support at 39.09 and resistance at 54.28. A decisive break through one of these levels indicates the new direction for the stock. The stock gave a negative signal from the double top formation by the break down through the support at 48.00. Further fall to 41.29 or lower is signaled. The stock is between support at kronor 43.00 and resistance at kronor 48.00. A definitive break through of one of these levels predicts the new direction. Volume tops and volume bottoms correspond well with tops and bottoms in the price. This weakens the falling trend and could be an early signal of a coming trend break. The RSI curve shows a falling trend, which supports the negative trend. The stock is overall assessed as technically negative for the medium long term.

Recommendation one to six months: Negative (Score: -80)

Long term

Nibe Industrier B has broken the ceiling of the falling trend in the long term, which indicates a slower initial falling rate. The stock is moving within a rectangle formation between support at 39.09 and resistance at 54.28. A decisive break through one of these levels indicates the new direction for the stock. There is no support in the price chart and further decline is indicated. In case of a positive reaction, the stock has resistance at 69.00 kronor. The stock is overall assessed as technically negative for the long term.

Recommendation one to six quarters: Negative (Score: -90)