[27 August 2024]
Today, Tuesday 27 August 2024, StockCharts365.com has taken a closer look at Intrum AB (ticker on Nasdaq Stockholm: INTRUM).
The Intrum share fell very sharply here some time ago from around SEK 300.00 in 2021/2022, and to the lowest now in March 2024 around SEK 12.00.
Now, however, several positive technical signals have been triggered for the Intrum share, which could lead to further upswing in the short and medium term.
Read more about this below here.
First here a little about Intrum AB (ticker on Nasdaq Stockholm: INTRUM)
Intrum is active in the financial industry. The company specializes in the management of credit processing services, with a focus on invoice purchases, credit information, invoicing and collection-related issues. Intrum was originally founded in 1924 and operates in the European market, with small and medium-sized business customers as its customer base. The head office is in Stockholm.
For more information about the company, visit their website here:
Technical Analysis of Intrum AB (ticker on Nasdaq Stockholm: INTRUM)
Technical Analysis of Intrum AB (ticker on Nasdaq Stockholm: INTRUM):
Intrum has shown a very weak development in the period between the beginning of 2022 and until around March 2024, and where the share as mentioned here fell from approximately SEK 300.00 to SEK 12.00. However, there have been far more positive rates for the Intrum share since the bottom in March 2024, and an upward trend has now been established for the share. The stock is consolidating in the very short picture, and the stock has also broken above both the 50-day and 200-day moving averages. Furthermore, the 50-day moving average is close to breaking above the 200-day moving average (the so-called 'Golden Cross Signal'). This also confirms that both the short-term and medium-term trend for the Intrum share has now turned from negative to positive. According to the rising trend that the share has now established, and is moving within, further upswing is signaled for the share in both the short and medium term. An increase up to around SEK 100.00 is indicated in the 6-12 month term, and in accordance with this rising trend that has now been established for the share in the past six months. Various momentum indicators such as RSI, Stochastics and MACD also signal further growth for the stock in the short term. This, together with the fact that the share now finds significant technical support around the 50-day and 200-day moving averages, gives an overall very positive technical picture for the Intrum share. StockCharts365.com's two own analysis models, 'The SignalList' and 'The TradingList' have also now both entered a buy signal for the Intrum share. So based on this overall positive technical picture that Intrum AB (INTRUM) is now showing, StockCharts365.com considers the share an interesting buy candidate around today's price level. What could possibly change the now positive technical picture that the stock is now showing, would be if it were to break down below the 50-day and 200-day moving averages, and down through the lower trend line in the rising trend. In other words, a break below the approximately SEK 35.00 level.
NB! Remember to have read and understood the disclaimer.
Comentários