OMX Helsinki (HEX.HEX)

Short term

OMX Helsinki 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. There is no support in the price chart and further decline is indicated. In case of a positive reaction, the index has resistance at 9500 points. RSI is below 30 after the falling prices of the past weeks. The index has strong negative momentum and further decline is indicated. 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 supports the negative trend. The index is overall assessed as technically negative for the short term.

Recommendation one to six weeks: Negative (Score: -89)

Medium term

OMX Helsinki has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index is moving within a rectangle formation between support at 9218 and resistance at 10372. A decisive break through one of these levels indicates the new direction for the index. The index gave a negative signal from the head and shoulders formation by the break down through the support at 9419. Further fall to 8778 or lower is signaled. The index has support at points 9000 and resistance at points 9430. The index is overall assessed as technically slightly negative for the medium long term.

Recommendation one to six months: Weak Negative (Score: -39)

Long term

Investors have accepted lower prices over time to get out of OMX Helsinki and the index is in a falling trend channel in the long term. Falling trends indicate that the market experiences negative development and falling buy interest among investors. The index is moving within a rectangle formation between support at 9218 and resistance at 10372. A decisive break through one of these levels indicates the new direction for the index. The index is between support at points 9000 and resistance at points 9800. A definitive break through of one of these levels predicts the new direction. The RSI curve shows a falling trend, which supports the negative trend. The index is overall assessed as technically negative for the long term.

Recommendation one to six quarters: Negative (Score: -53)