TECHNICAL ANALYSIS: Fingerprint – strong
Skrivet av Per Stolt
13 september, 2021 06:02
The biometric company Fingerprint is right in the middle of a strategic overview, triggered by external interest for the company.
According to many of Swedens experts this might have to do with the short selling from a chinese bases hedge fund Sylebra.
The hedge fund has bashed no less than 22.17 million shares into the market and the price has taken an aggressive nosedive.
For many analysts this plunge has come as a surprise since the company have improved both revenue and grossmargin:
In one of Swedens financial newspaper Privata Affärer (Private Affairs) one can read that Fingerprint is back on growth again.
Source: ”Fingerprint är tillbaka som tillväxtbolag”
Fingerprint Cards: Intäkter och marginaler ökar (källa: Fingerprint)
Technical Analys
Fingerprint made a possible last sell-out by falling down the support level at 27,10 SEK.
The price immediately went back above and that means we had a false break-down, which accordingly to the technical analysis is a buy signal.
This price movement also made classic ”turtle soup”, coming from one of the world most famous trader Linda Bradford Raschke. Most known for being one of the Market Wizards in jack D Schwager famous series.
The RSI has broken it resistance, and that is also a positive indication.
Our main scenario is a quick move on the upside, targeting the resistance-area 37-42 SEK. Should Fingerprint reach its main target area we expect some kind of distribution for a new leg up through the resistance level 37-42, now targeting 48-58 SEK.
Note: The Chinese hedge fund Sylebra has picked a rather big short position in the stock. At no less than 7 times earlier the hedge fund was involved in merger/buyout/part buy out/ bid or talks in companies they were short in.
To read more about this:
https://dagensbors.se/fing-sylebra-involved-in-7-buyout-talks/
Summary: Fingerprint is fundamentally strong and the technical analysis indicates a forthcoming test of the 37-42 resistance-area.
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Recent published analysis on Fingerprint
FING-POSITIV 10 september, 2021 17:21 ANALYS: Fingerprint uppföljning (+28,05 kr)
FING-POSITIV 10 september, 2021 05:35 TEKNISK ANALYS: Fingerprint och lull-lull (26,64 kr)
FING-POSITIV 1 september, 2021 16:47 ANALYS: Fingerprint Cards är på gång! (28,90 kr)
FING-POSITIV 26 augusti, 2021 05:13 ANALYS: FING samlar kraft för uppgång (27,71 kr)
FING-POSITIV 12 augusti, 2021 04:53 TEKNISK ANALYS: Fingerprint Cards (28,39 kr)
Fingerprint (diagram källa: Infrontfinance.com)
The author have no position in the company.
