Shipping in this weeks analysis!
Aksjeanalyser.com looks at a company on the Oslo Stock Exchange!
Havila Shipping ASA (ticker: HAVI)
The stock has triggered several positive technical signals recently, and Aksjeanalyser.com considers the stock to be an interesting and exciting buy candidate at the current price level. Read more below about the technical analysis of Havila Shipping (HAVI).
Briefly about Havila!
Havila Shipping ASA (ticker on Oslo Stock Exchange: HAVI)
Havila Shipping ASA is engaged in the management and operation of offshore service vessels. The company operates through the following segments: Anchor Handling Vessels, Platform Supply Vessels, Rescue and Salvage Vessels, Subsea Operation Vessels, and Unallocated. The segment Unallocated includes management costs. The company was founded on July 31, 2003, and is headquartered in Fosnavåg, Norway.
Havila Shipping ASA (HAVI) has a market capitalization of approximately NOK 352 million at the current share price.
For more information about the company, visit their website here!
Technical Analysis of Havila Shipping ASA
(ticker on Oslo Stock Exchange: HAVI)
The share has shown a very weak performance in recent years, but several positive technical signals have been triggered for the share recently.
Havila has broken out of its long-term falling trend (see weekly chart below), and the share has also broken above both the 50-day and 200-day moving averages.
Furthermore, the 50-day moving average is now close to breaking above the 200-day moving average (the so-called ‘Golden Cross Signal’).
These are strong signals that both the long-term and short-term trends for the stock are now turning from negative to positive.
The stock received a strong boost on high volume recently (cf. day chart) and then had a correction downwards.
There is now significant technical support for the share around the 200-day moving average and around the NOK 1.20 level (see today’s chart).
The BEST model in Vikingen is also a buy signal for the Havila 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 and now positive technical picture that the Havila share shows, Aksjeanalyser.com assesses the share as an exciting and interesting buy candidate here around the current price level.
The potential for the share is estimated to be up to NOK 3.50-4.00 in 6-12 months’ time, i.e., a significant potential from the current share price of around NOK 1.32.
What could potentially change the currently positive technical picture that the Havila Shipping share shows would be if the share were to break down below the NOK 1.20 level and below the 200-day and 50-day moving averages.
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