Photo by Nicholas Cappello on Unsplash
Marel is the largest company in the Icelandic stock market in terms of market-cap. After topping out on August 31 2021, the company´s stock price declined 55%. But since early October this year, the price is up 23%, after finding at least a temporarily bottom close to its March 2020 swing low at about 435 ISK per share.
For further advance potential, I want to see Marel´s stock price break convincingly above the important 570 level and for the teal-colored shorter term moving average to cross above the purple longer term moving average line. The relative performance of the price versus the market´s composite index has been improving and it would be a strong confirmation signal if the teal moving average line can rise above the purple one, showing clear outperform-ance of the stock price compared to its index.
(Click on image to enlarge)
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