In this week’s analysis: a Norwegian investment company!
Aksjeanalyser.com takes a look at an oil services company:
Akastor ASA
(ticker on Oslo Stock Exchange: AKAST)
The stock has triggered several positive technical signals recently. Now may be a favorable level to buy. The potential can be significant in both the short and long term, and the stock could see multiple doubles.
Read more about this below under the technical analysis of Akastor ASA (AKAST).
Briefly about Akastor ASA
(ticker on Oslo Stock Exchange: AKAST)
Akastor ASA is an oil service investment company with a portfolio of industrial and financial holdings. The company has a flexible mandate for active ownership and long-term value creation. Akastor was established as an investment company in 2014 following the merger of Aker Solutions with a portfolio of companies. As a descendant of the Aker Group, Akastor can trace its roots back more than 170 years to the founding of Aker Mekaniske Verksted on the banks of Akerselva in Oslo in 1841.
Aker Holding AS, owned by Aker ASA, is the largest shareholder in Akastor with an ownership share of 36.7 percent. Akastor’s shares are traded on the Oslo Stock Exchange under the ticker AKAST. Akastor’s head office is located at Fornebu outside Oslo, Norway. Akastor has a broad portfolio of industrial and financial holdings in various industry segments. At the end of 2024, Akastor had a net capital employed of NOK. 5.0 billion.
The company currently has a market capitalization of around NOK 3.15 billion. For more information about the company, Akastor ASA (AKAST), visit their website here.
Technical Analysis of Akastor ASA
(ticker on Oslo Stock Exchange: AKAST)
The Akastor share has triggered several positive technical signals recently.
The stock has broken above both the 50-day and 200-day moving averages.
Furthermore, the stock has broken out of the medium-term falling trend that started around mid-2024 (see weekly chart).
The stock is also breaking up through an important technical resistance level now around the NOK 12.00 level.
The Akastor share is in a long-term rising trend, which started back at the beginning of 2020 (see weekly chart).
The stock has now been well received at the support level at the lower trend line in this long-term rising trend.
The BEST model in Vikingen is also in a buy signal for the Akastor share. This popular and effective technical analysis model was developed by Peter Östevik. He finalized the the BEST model around 2019, and after 30 years of experience in technical analysis and Vikingen Financial Software.
Based on the overall positive technical picture that the stock now shows, Aksjeanalyser.com considers the Akastor stock an interesting buy candidate at the current price level.
The potential for the share is estimated to be up to around the NOK 16.00 level in 3-6 months’ time, and up to NOK 20.00 – 40.00 in 1-2 years’ time (and according to the long-term rising trend that the share moves within).
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