Mowi ASA shares reflect an interesting technical chart pattern from a medium term view In fact, the support at 156.95 NOK represents an important technical support area based on weekly price data that could limit downward movements by the stock.
Summary
● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
Strengths
● The current area is a good opportunity for investors interested in buying the stock in a mid or long-term perspective. Indeed, the share is moving closer to its lower bound at NOK 156.95 NOK in weekly data.
● Graphically speaking, the timing seems perfect for purchasing the stock close to the NOK 155.75 support.
● Historically, the company has been releasing figures that are above expectations.
● Over the last 4 months, analysts have significantly revised upwards the company's estimated sales.
● Over the last twelve months, the sales forecast has been frequently revised upwards.
Weaknesses
● For the last few months, analysts have been revising downwards their earnings forecast.
● For the last 12 months, analysts have been regularly downgrading their EPS expectations. Analysts predict worse results for the company against their predictions a year ago.
● The technical configuration over the long term remains negative on the weekly chart below the resistance level at 190 NOK
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Mowi ASA specializes in breeding, processing and marketing salmon and trout. Net sales break down by activity as follows:
- sale of fish (96.8%). The group is also develops production of fish-based products activity (smoked salmon, fish terrines, rillettes, etc.);
- farming and preparation of fish (3.1%): salmon, trout, cod, sturgeon, etc. The activity is carried out primarily in Norway, Scotland, Canada, Chile, Ireland and the Faeroe Islands;
- production of fish feed (0.1%).
Net sales break down by family of products between prepared, processed and smoked salmon (59.9%) and whole salmon (40.1%).
Net sales are distributed geographically as follows: Europe (71.4%), America (19.1%), Asia (8.4%) and other (1.1%).