1▲4 | ORK | Orkla ASA | 72+14 | 82+22 | 58 | 72+7 | high | Orkla is the standout momentum leader in the universe — at its 20-day high, +4.4% above its MA, and +3.4% over five days — with defensive consumer staples characteristics providing stability in a risk-off environment. | ▼ |
2▲1 | STB | Storebrand ASA | 67-1 | 68-4 | 58-2 | 75-2 | medium | Storebrand shows solid relative strength — near 20-day highs (78% range), positive vsMA, and low volatility — with insurance/savings business providing defensive income characteristics. | ▼ |
3▼2 | DNB | DNB Bank ASA | 65-7 | 65-11 | 60-3 | 78-2 | medium | DNB Bank is one of the few stocks with positive 5d and 20d returns, sitting comfortably above its MA with low volatility, benefiting from a stable Nordic rate environment. | ▼ |
4▼2 | SUBC | Subsea 7 SA | 55-15 | 58-22 | 52-3 | 40 | medium | Subsea 7 has strong 20-day momentum (+12.9%) but gave back -4.4% this week, now consolidating above its MA — the pullback may offer an entry but requires stabilisation confirmation. | ▼ |
5▲1 | MOWI | Mowi ASA | 52+7 | 58+16 | 50 | 62+4 | medium | Mowi shows the best momentum in the aquaculture group — above its 20-day MA, mid-range positioning, and lowest volatility in sector — making it the preferred aquaculture hold despite absent salmon spot data. | ▼ |
6▲3 | SALM | SalMar ASA | 43+8 | 38+12 | 48 | 48+6 | low | SalMar is down 7% over 20 days, sitting at mid-range with slightly negative vsMA, suggesting consolidation without a clear catalyst to reverse near-term weakness. | ▼ |
7▲4 | AUSS | Austevoll Seafood ASA | 38+6 | 28+6 | 45 | 42 | low | Austevoll is near 20-day lows with weak monthly momentum and no salmon spot price catalyst, though limited near-term downside given mild 5-day stabilisation. | ▼ |
8▼1 | BWLPG | BW LPG Limited | 38 | 32+2 | 42-3 | 38 | low | BW LPG shows mild 5-day recovery (+1.6%) but remains down 5.2% over 20 days with below-MA pricing; LPG shipping fundamentals are soft and the recovery lacks conviction. | ▼ |
9▲1 | TEL | Telenor ASA | 33 | 20+5 | 48-2 | 72+4 | low | Telenor is near its 20-day low with negative momentum across all timeframes; the defensive telecom characteristics limit downside but near-term momentum is clearly weak. | ▼ |
10▼6 | KOG | Kongsberg Gruppen ASA | 30-30 | 18-40 | 55-7 | 38-7 | low | Kongsberg Gruppen has reversed sharply from recent highs — down 8.8% over 20 days and barely off its 20-day low — despite its strong defence sector tailwinds, near-term momentum is clearly deteriorating. | ▼ |
11▼3 | SCATC | Scatec ASA | 28-8 | 12-12 | 38-4 | 52-3 | low | Scatec is at its 20-day low, down 9.4% over a month, with weak renewable sentiment and no stock-specific catalyst; relatively low vol is the only modest positive. | ▼ |
12▲2 | YAR | Yara International ASA | 27+5 | 15+7 | 38 | 28 | low | Yara faces significant technical weakness — down 11.9% over 20 days, near 20-day lows, with elevated volatility — and fertiliser markets remain under pressure with no clear near-term catalyst. | ▼ |
13▼1 | AKRBP | Aker BP ASA | 22-8 | 8-12 | 38-4 | 35-3 | low | Aker BP is at its 20-day low with -7.8% monthly return and deeply negative vsMA in the context of subdued Brent crude (~$72/bbl), presenting a clear avoid signal for the near term. | ▼ |
14▼1 | EQNR | Equinor ASA | 21-7 | 7-10 | 40-5 | 30-3 | low | Equinor mirrors Aker BP's weakness — at 20-day lows, -8.2% monthly, highest energy sector volatility — and the soft Brent crude environment offers no near-term fundamental support. | ▼ |
15— | NHY | Norsk Hydro ASA | 12-8 | 3-2 | 30-5 | 10-10 | low | Norsk Hydro is the worst performer in the universe — down 18.7% over 20 days, -15.5% below its MA, at its 20-day low, with the highest realised volatility (25.7%) — a clear avoid. | ▼ |