Cyber Security in his week’s Analysis!
This week Aksjeanalyser.com takes a closer look at a company in cyber security!
Advenica (ticker on First North Sweden: ADVE)
The stock is showing a strong development and has triggered several positive technical signals, after a short-term correction down in recent days. Aksjeanalyser.com believes that the Advenica share can be a good buy in the area around the SEK 16.00 – 18.00 level. Read more below under the technical analysis of Advenica (ADVE) in this week’s Analysis from Aksjeanalyser.com.
First about the company, Advenica
(ticker on First North Sweden: ADVE)
Advenica delivers encryption and segmentation products, designed, developed and manufactured in Sweden, that prevent intrusion, data leakage and manipulation of protective and business-critical information. With Advenica, countries, governments and companies strengthen information security and digitize responsibly.
The company has been supplying security solutions to the Swedish Armed Forces and defense-related authorities for almost 30 years and has also been operating for several years with deliveries throughout Europe from its own offices in Finland and Austria. Founded in 1993, Advenica is headquartered in Malmö and has sales offices covering parts of the European market from Helsinki and Vienna. Advenica is one of four companies that have products approved at EU Secret level.
For more information about the company, visit their website here.
Technical Analysis of Advenica
(ticker on First North Sweden: ADVE)
The Advenica share has in recent years consolidated within a large rectangle consolidation formation, and has triggered a strong technical buy signal after breaking above the SEK 18.00 level. Now that the stock has corrected down towards this level, there is significant technical support for the stock around the SEK 16.00 – 18.00 level.
There has been a sharp increase in volume in the share during the recent doubling of the share from around the SEK 10.00 level to around the SEK 20.00 level. In other words, there is a positive volume balance for the share.
Further upwards, the next technical resistance level is around SEK 23.00 – 25.00, and if this level is broken, another strong technical buy signal will be triggered for the stock. There will then be little technical resistance for further rise in the stock within the long term rising trend that started in early 2020 (see week chart below).
The BEST model is also in a buy signal for Advenica!
The stock is naturally overbought in the very short term, and according to various momentum indicators, and after the stock has doubled in a short period of time. There should be good technical support for the stock in the area around SEK 16.00 – 18.00, and Aksjeanalyser.com finds the stock very interesting and exciting here around the current price level.
The potential for the share, and in the event of a break above the SEK 23.00 – 25.00 level, will be a new doubling to up to SEK 50.00 – 60.00. This could happen in just 6-12 months.
The BEST model in Vikingen is also a buy signal for Advencia. 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 with technical analysis and Vikingen Financial Software.
Don’t miss the Top 10 buy signals from Vikingen!
Each week, the top 10 buy signals from the BEST model will be presented on the Vikingen website.
You’ll find them here!
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Vikingen Financial Software reminds you that past positive results do not always indicate future profits and that all trading is at your own risk.
Sincerely yours
