Pharma in this week’s analysis!
Aksjeanalyser.com looks at a company that wants to eradicate infections!
SoftOx Solutions AS (ticker: SoftOx, Euronext Growth Oslo)
The stock has tripled in value over the past two months and could now be poised for a further multi-doubling in the months ahead, according to Aksjeanalyser.com.
About SoftOx Solutions AS
(ticker: SoftOx, Euronext Growth Oslo)
SoftOx Solutions AS is engaged in research and product development. They develop antiseptics to prevent and heal difficult-to-treat skin infections and aim to help overcome the global challenge of antibiotic resistance with their new solutions. The company was founded by Kristian Almas and Geir Hermod Almas on June 21, 2012, and is headquartered in Oslo, Norway.
The company currently has a market capitalization of around NOK 323 million.
For more information about the company, visit their website here!
Technical Analysis of SoftOx Solutions AS
(ticker SoftOx, Euronext Growth Oslo)
The SoftOx share has recently triggered several positive technical signals.
The stock has tripled in just over two months and has broken above both the 50-day and 200-day moving averages.
Over the past year, the stock has moved within a large rectangle consolidation formation, and after the stock broke out of its long-term falling trend around a year ago.
The BEST model in Vikingen is also in a buy signal for the SoftOx 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.
The stock is now testing a resistance level in the aforementioned rectangle consolidation formation, and Aksjeanalyser.com believes that the stock may soon break out of this formation.
This will trigger a new strong technical buy signal for the SoftOx share, which then meets little technical resistance further upwards.
Aksjeanalyser.com believes the share could rise to around NOK 0.60 in just the next 3-6 months, and perhaps all the way up to NOK 2.50-3.00 in the next 12-18 months.
It should be noted that there is always a high risk with pharma and biotech stocks, but as Aksjeanalyser.com assesses it, the SoftOx share may have significant potential, and Aksjeanalyser.com believes the share can multiply again from the current price level.
It is also worth noting that there has been a significant increase in the trading volume of the share during the sharp rise and tripling of the share. This provides further positive technical signals for the development of the SoftOx share.
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