Gaming in this week’s analysis!
Aksjeanalyser.com looks at an exciting gaming company!
5th Planet Games A/S (ticker on Euronext Expand Oslo: 5PG)
Several positive technical signals have been triggered for the stock recently, and Aksjeanalyser.com sees a possible doubling of the share price over the next 6-12 months. Read more below under the technical analysis of the share.
About the company
5th Planet Games A/S Source.
“At 5th Planet Games, we are committed to finding, funding, and publishing games that engage and delight gamers around the world, whether they play on console, PC, or mobile, and whether they prefer their content delivered digitally or physically. Our ambition is to provide exceptional gaming experiences that people recommend to family and friends, that employees are proud of, and that investors seek long-term returns.”
At the current share price, the company has a market capitalization of approximately DKK 183 million.
For more information about the company, visit their website here.
Technical Analysis of 5th Planet Games A/S
(ticker on Euronext Expand Oslo: 5PG)
The 5th Planet Games share has recently triggered several positive technical signals.
The share has broken out of the long-term falling trend that it has been in since the beginning of 2023 (see weekly chart below).
A new and rising trend has also been established, within which the share is now moving (see day chart above).
Furthermore, the stock has also broken above both the 50-day and 200-day moving averages. A ‘Golden Cross Signal’ has also been triggered, and the 50-day moving average has broken above the 200-day moving average.
This signals that both the short-term and long-term trends for the share have now turned from negative to positive.
Various momentum indicators such as RSI, Stochastics and MACD are also signaling further upward movement for the share and are thus helping to support the otherwise positive technical picture that the 5th Planet Games share is now showing.
The BEST model in Vikingen is also in a buy signal for the 5th Planet Games share. This popular and effective technical analysis model was developed by Peter Östevik. He finalized the BEST Model around 2019, and after 30 years of experience in technical analysis and Vikingen Financial Software.
Based on this overall positive technical picture, Aksjeanalyser.com assesses the 5th Planet Games share as an interesting buy candidate at the current price level.
The potential for the share is estimated to be up to NOK 1.50-2.00 in 6-12 months’ time.
What could potentially change the current positive technical picture for the share would be if it were to break down below the 50-day and 200-day moving averages, which are currently around NOK 0.90 and 0.80. NOK 0.90 and 0.80.
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