Photo by Wance Paleri on Unsplash
In November of last year and in January of this year, I pointed out the significant 569-570 resistance (ceiling) level for Marel´s stock price and mentioned the price was preparing to push above that level. See prior posts here:
Stock Price Of Marel At Critical Point
Marel's Stock Price Rebounding But Nearing An Important Inflection Point
The breakout of the stock price has taken place, just as I expected, and it came in the form of a classic breakaway gap on large volume after the company published its Q4 and full-year 2022 financial results. In my view, the long-term trend of price is now up if it stays above 569. As mentioned earlier, my first possible target prices are found in the area of 632-669 - then at 700 ISK per share.
(Click on image to enlarge)
More By This Author:
Breakout In Value Line Geometric Index
Stock Price Of Marel At Critical Point
Bank Index Finally Wakening
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