1— | KOG | Kongsberg Gruppen ASA | 88 | 95-2 | 65+3 | 45+3 | high | Kongsberg Gruppen is the standout buy with a +13% 5-day surge, sitting at the 100% mark of its 20-day range — strong defence spending tailwinds and positive price action signal continued momentum. | ▼ |
2▲2 | DNB | DNB Bank ASA | 74+6 | 80+8 | 65+5 | 88+3 | high | DNB exhibits textbook constructive momentum — +5% over 20 days, sitting at 91% of its 20-day range with the lowest realised volatility (5.7%) in the universe, underpinned by a healthy Nordic banking environment. | ▼ |
3▼1 | ORK | Orkla ASA | 72-2 | 78-4 | 60 | 72 | high | Orkla is one of the strongest setups in the universe with a +9.3% 20-day gain, sitting at 90% of its 20-day range, supported by defensive consumer staples characteristics and low volatility. | ▼ |
4▼1 | STB | Storebrand ASA | 70-2 | 76-4 | 62+2 | 72-2 | high | Storebrand mirrors DNB's strong setup (+5.9% over 20d, Rng 86%) with solid insurance/savings sector tailwinds and low vol, though slightly more sensitivity to equity markets warrants a modest discount. | ▼ |
5▲1 | SUBC | Subsea 7 SA | 55-2 | 52-6 | 55+3 | 68 | medium | Subsea 7 shows steady positive 5-day momentum (+2.6%) but the 20-day gain is minimal (+0.9%) and it sits in the middle of its range (42%), making it a neutral-to-modestly-positive setup in a supportive offshore EPCI backlog environment. | ▼ |
6▲1 | BWLPG | BW LPG Limited | 52 | 58 | 48 | 35-3 | medium | BW LPG's strong +6.3% 5-day return and return to positive vsMA territory are encouraging, but the -4.7% 20-day decline and high realised volatility (18.8%) in LPG shipping signal an early and uncertain recovery. | ▼ |
7▼2 | SCATC | Scatec ASA | 50-8 | 50-12 | 48+3 | 72+12 | medium | Scatec has stabilised with a +2.1% 5-day return and is near its 20-day moving average (vsMA +0.2%), sitting mid-range (57%), offering a neutral setup with low volatility in the renewables sector. | ▼ |
8— | MOWI | Mowi ASA | 38-8 | 35-9 | 50 | 62-6 | low | Mowi shows the most resilient momentum among aquaculture peers (-1% over 20d) but remains in a mild downtrend with no positive catalysts and soft salmon spot conditions. | ▼ |
9— | EQNR | Equinor ASA | 36-4 | 30+2 | 50-2 | 35-7 | low | Equinor shows marginally better near-term momentum than AKRBP (+1.8% over 5 days) but the 20-day trend (-11%) and soft Brent environment keep conviction limited. | ▼ |
10▲1 | TEL | Telenor ASA | 35-2 | 28-4 | 55+5 | 65-5 | low | Telenor is in a mild downtrend (-5% over 20 days, Rng 23%) with no near-term catalyst; defensive telecom characteristics limit downside but the lack of momentum and EUR/NOK headwinds for international operations keep conviction low. | ▼ |
11▲2 | YAR | Yara International ASA | 32-1 | 22-6 | 45+3 | 50-5 | low | Yara faces a -7.2% 20-day decline and sits near 20-day lows (Rng 14%) with fertiliser market headwinds and no near-term catalyst to reverse the downtrend. | ▼ |
12▼2 | AUSS | Austevoll Seafood ASA | 30-8 | 22-8 | 45 | 58-10 | low | Negative price momentum across both 5-day and 20-day periods with the stock sitting near 20-day lows (Rng 13%), and no company-specific catalyst to reverse the salmon sector's current weakness. | ▼ |
13▼1 | AKRBP | Aker BP ASA | 28-7 | 15-7 | 45-5 | 32-8 | low | Aker BP has suffered a -13.3% 20-day decline and sits near 20-day lows (Rng 6%) with Brent at a soft $76.54/bbl providing no near-term support for Norwegian E&P names. | ▼ |
14— | SALM | SalMar ASA | 22 | 12+2 | 45 | 30+2 | low | SalMar is the weakest aquaculture name with a severe -10.5% 20-day drawdown, sitting near 20-day lows (Rng 9%) with elevated realised volatility (18.7%), signalling clear distribution. | ▼ |
15— | NHY | Norsk Hydro ASA | 15+1 | 5 | 38+3 | 18 | low | Norsk Hydro is the weakest name in the universe with a devastating -23.8% 20-day loss, extreme realised volatility (27.8%), sitting at just 4% of its 20-day range — aluminium oversupply and global growth concerns make this an avoid. | ▼ |