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One sector that has taken off during the pandemic is gambling and gambling. In the podcast, Johnny Torssell reviews the largest companies in the sector and finds positive situations for several of them, from a technical-analytical perspective.
Betsson It bottomed out in March when the pandemic grew dramatically in Sweden. The fee peaked this summer at SEK 80. Torssell’s assessment is that if “there will be an outbreak” of more than SEK 80, the ratio may increase to SEK 90.
Hugging It is in a long-term uptrend that peaked on November 9, and in the medium term the stock is in a consolidation phase. The action “looks strong” will be Torssell’s rating.
Evolution games It delivered a buy signal on November 30 and the stock is up to 825 SEK.
Family members It is slightly behind Evolution and delivered a buy signal on December 4. The stock is trading near SEK 79 near resistance at SEK 80.
The weakest in the sector
The weakest in the sector is Leo Vegas. The long trend looks shaky, Johnny Torssell believes, and in the medium term the curve is pointing down, he says. If the fee breaks below SEK 32, it can go down to SEK 28, but if the SEK 35 level is exceeded, the fee can go up to SEK 40.
Otherwise see MTG shares strong, and there are no signs that the price is near the top or that the uptrend is about to peak.
as well Net ent with the long upward trend. “The next buy signal is likely to exceed SEK 100, and it could be a new all-time high. But if the price falls below 82 SEK, it can go down to 70 SEK.
Paradox It’s oversold, but has an “interesting location,” according to Torssell. “It looks exciting as long as the 225 level is not punctured then the risk of a long trend reversal increases.
Stillfront, the long trend points up, while the middle trend points down. The share is consolidated at prices between 844-990 SEK. But an “outbreak of more than SEK 990 can amount to SEK 1,200,” says Torssell.
Various signs of strength
In short, there are several signs of strength in the stock market right now, says Johnny Torssell. The OMXSPI headline index, for example, has barely recovered at all this fall, and the same applies to small and mid-caps on the stock market.
The large-cap OMXS30 index delivered a “buy signal” on November 9, when resistance was overcome in 1860. The next resistance is in 2000 and the long-term trend is bullish, while the short-term trend has been recovered from the November 25 peak.
Before the transition to 2021, the stock market is “overbought in the long run,” Johnny Torssell believes, and the stock market is historically overvalued as well. So it’s reasonable to expect a major rebound next year, but you don’t know when it will happen, he says on the podcast.
