1— | DNB | DNB Bank ASA | 78+2 | 76+2 | 65 | 88-2 | high | Sitting at its 20d high with remarkably low volatility (3.5%), positive momentum, and strong Nordic financial sector fundamentals make this the portfolio's most stable conviction pick. | ▼ |
2— | BWLPG | BW LPG Limited | 76+1 | 85 | 52-6 | 46-1 | high | Strongest 20d momentum in the universe at +14.8% with 100% range positioning and 6.8% above the 20d MA; LPG shipping rates and global energy trade flows are supportive. | ▼ |
3— | SALM | SalMar ASA | 75+4 | 80+3 | 52 | 48-6 | high | Strongest aquaculture momentum at +10.3% 20d and 89% range positioning with the highest sector 20d gain, though elevated volatility warrants monitoring. | ▼ |
4— | MOWI | Mowi ASA | 74+4 | 77+2 | 52 | 55-3 | high | Best-in-class aquaculture momentum at +7.9% 20d and +4.0% above 20d MA, supported by broadly supportive salmon market conditions. | ▼ |
5— | AUSS | Austevoll Seafood ASA | 72+4 | 75+3 | 50 | 62-3 | high | Strong aquaculture momentum with +7.3% 20d return and 90% range positioning, though missing fundamentals data limits conviction. | ▼ |
6— | STB | Storebrand ASA | 70+2 | 74+4 | 60 | 60-3 | high | Solid +8.0% 20d gain, 91% range position and above its MA; Storebrand benefits from rising rates and insurance market tailwinds with moderate volatility. | ▼ |
7— | EQNR | Equinor ASA | 62+7 | 72+7 | 55-3 | 38+3 | medium | Exceptional 20d strength at +21.4% and still 7.3% above its 20d MA, but high realized volatility (22.6%) and a 5d pullback indicate some near-term mean-reversion risk. | ▼ |
8— | AKRBP | Aker BP ASA | 58+6 | 58+4 | 55 | 46-2 | medium | Brent at $85/bbl supports energy earnings, but -1.8% 5d pullback and 72% range position suggest near-term consolidation after a strong 20d run. | ▼ |
9— | NHY | Norsk Hydro ASA | 52 | 52+2 | 52 | 65-3 | medium | Stable price action (Vol 7.3%) with modest positive momentum at mid-range; aluminium market is neutral and EUR/NOK at 10.97 provides some revenue support for this exporter. | ▼ |
10— | ORK | Orkla ASA | 47-1 | 44+2 | 55 | 72-3 | medium | Modest recent recovery (+3.3% 5d) but still down -2.4% over 20 days and sitting at midrange; defensive consumer staples profile limits downside but lacks near-term catalyst. | ▼ |
11▲1 | YAR | Yara International ASA | 44+1 | 40 | 50+2 | 64-3 | low | Mildly positive 20d return (+2.9%) is offset by a -2.1% weekly pullback and 42% range position; fertiliser pricing uncertainty limits near-term upside. | ▼ |
12▼1 | KOG | Kongsberg Gruppen ASA | 43-1 | 38 | 55-3 | 38 | low | Kongsberg is deep in a 20d correction (-9.7%) despite modest 5d recovery (+2.2%) and 41% range position; defence sector long-term thesis intact but short-term momentum is weak. | ▼ |
13— | TEL | Telenor ASA | 35 | 30 | 50 | 48-2 | low | Weak 20d return of -5.9% and only 29% range position; slight 5d recovery (+1.7%) is insufficient to reverse the downtrend, and USD/NOK at 9.53 adds EM subsidiary FX headwinds. | ▼ |
14— | SUBC | Subsea 7 SA | 30-2 | 22-3 | 48 | 48 | low | Clear downtrend with -5.3% 20d and -3.4% 5d returns, sitting at only 31% of its 20d range and below the 20d MA — no near-term catalyst visible. | ▼ |
15— | SCATC | Scatec ASA | 22 | 12 | 40 | 62-3 | low | Worst momentum in the universe — -7.8% 20d, -4.6% 5d, and sitting at only 13% of its 20d range at -4.0% below the 20d MA; renewables sentiment remains challenged. | ▼ |