Hovedindeksen (OSEBX.OL)

Short term

Hovedindeksen is in a falling trend channel in the short term. This shows that investors over time have sold at lower prices to get out of the index, and indicates negative development for the market. The index gave a negative signal from the rectangle formation by the break down through the support at 1414. Further fall to 1347 or lower is signaled. The index is approaching support at 1402 points, which may give a positive reaction. However, a break downwards through 1402 points will be a negative signal. Volume has previously been high at price tops and low at price bottoms. This weakens the falling trend and could be an early signal of a coming trend break. RSI below 30 shows that the momentum of the index is strongly negative in the short term. Investor have steadily reduced the price to sell the index, which indicates increasing pessimism and continued falling prices. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The index is overall assessed as technically slightly negative for the short term.

Recommendation one to six weeks: Weak Negative (Score: -48)

Medium term

Hovedindeksen is in a rising trend channel in the medium long term. This shows that investors over time have bought the index at higher prices and indicates good development for the market. The index is moving within a rectangle formation between support at 1405 and resistance at 1476. A decisive break through one of these levels indicates the new direction for the index. The index gave a negative signal from the rectangle formation by the break down through the support at 1416. Further fall to 1322 or lower is signaled. The index has support at points 1380 and resistance at points 1460. RSI below 30 shows that the momentum of the index is strongly negative in the short term. Investor have steadily reduced the price to sell the index, which indicates increasing pessimism and continued falling prices. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The RSI curve shows a falling trend, which is an early signal of a possible trend reversal downwards for the price as well. The index is overall assessed as technically neutral for the medium long term.

Recommendation one to six months: Hold (Score: -4)

Long term

Investors have paid higher prices over time to buy Hovedindeksen and the index is in a rising trend channel in the long term. This signals increasing optimism among investors and indicates continued rise. The index is approacing resistance at 1470 points, which may give a negative reaction. However, a break upwards through 1470 points will be a positive signal. The index is assessed as technically neutral for the long term.

Recommendation one to six quarters: Hold (Score: 22)