A Finnish company in this week’s analysis!
Aksjeanalyser.com takes a closer look at an IT giant in the Nordics, Tietoevry Oyj!
Tietoevry Oyj is listed on NASDAQ Helsinki (ticker: TIETO), Nasdaq Stockholm (ticker: TIETOS), and the Oslo Stock Exchange (ticker: TIETO).
Tietoevry Oyj has a market capitalization of around EUR 2.05 billion. It is a Finnish company that provides IT and product development services. The company has approximately 24,000 employees and is active in about 20 countries. The company is based in Espoo, Finland, and its shares are listed on Nasdaq Helsinki, Nasdaq Stockholm, and the Oslo Stock Exchange. The company has customers in sectors such as energy, forestry, banking, and healthcare.
About the company Tietoevry Oyj!
“Born in the Nordics – trusted everywhere”!
Tietoevry Oyj combines deep industry knowledge with cutting-edge technology. From secure banking platforms to healthcare systems, we create purposeful technology – driven by innovation and customer success.
“We are developers of digital futures”!
“Tietoevry is a leading software and digital engineering company with global market reach and capabilities. We provide customers across various industries with business-critical solutions through our specialized software businesses Tietoevry Care, Tietoevry Banking and Tietoevry Industry, as well as our digital engineering business Tietoevry Create. Our approximately 15,000 talented vertical software, design, cloud and AI experts are dedicated to empowering our customers to succeed and innovate with the latest technology.
Tietoevry’s annual turnover is approximately EUR 2 billion. The company’s shares are listed on the NASDAQ stock exchanges in Helsinki (ticker: TIETO) and Stockholm (ticker: TIETOS), as well as on the Oslo Stock Exchange (ticker: TIETO).”
For more information about the company, visit their website here.
Technical Analysis of Tietoevry Oyj!
NASDAQ stock exchange in Helsinki (ticker: TIETO), Stockholm (ticker: TIETOS), and Oslo Stock Exchange (ticker: TIETO).
The Tietoevry stock has triggered several positive technical signals recently.
The stock has triggered a strong technical buy signal after breaking upwards from a rectangle formation, and the stock has also broken out of the long-term falling trend the stock has been in since the beginning of 2023 (see weekly chart).
Furthermore, the stock has broken above both the 50-day and 200-day moving averages, and the 50-day moving average is now breaking above the 200-day moving average (the so-called ‘Golden Cross Signal’).
This confirms that both the short-term and long-term trends for the Tietoevry share have now turned from negative to positive.
The stock has been consolidating recently, which is very common after breaking up of such rectangle formations, and before a further rise for the stock.
The overall technical picture for the Tietoevry share signals that the share is likely to continue to rise in the short and medium term.
The BEST model in Vikingen is also in a buy signal for the stock. Peter Östevik developed this popular and effective technical analysis model. He finalized the BEST model around 2019, and after 30 years of experience in technical analysis and Vikingen Financial Software.
In the short term (1-3 months), the potential for the share is considered to be up towards the SEK 240.00 level.
Should the share break above the SEK 240.00 level, a further rise towards the previous peak in 2023, around SEK 340.00, will be signaled on a 12-month horizon. Based on this overall positive technical picture that the Tietoevry share now shows, Aksjeanalyser.com views the stock as an interesting buy candidate at the current price level.
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Sincerely yours
