Trades

Score 44 — Aquaculture sector headwinds and a negative 20d return (-4.5%) offset by relative range stability (54%) and flat 5d performance suggesting selling pressure is stabilising.

Score 47 — SalMar holds mid-range (60%) with the least negative 20d return in aquaculture (-2.9%), suggesting relative resilience, though sector sentiment remains subdued without a salmon spot price catalyst.

Score 48 — High Brent crude ($105/bbl) is a structural tailwind, but a sharp -6.0% 5-day sell-off and low range position (16%) signal near-term technical damage requiring caution before re-entry.

Score 52 — Yara is flat on a 20d basis with near-zero vsMA and a mid-range position (55%), indicating a balanced setup where fertiliser fundamentals and energy cost normalisation provide modest support.

Score 63 — Brent at $105/bbl provides a strong fundamental backdrop, and EQNR's solid 20d return (+4.8%) and mid-range position (56%) confirm the macro tailwind is being reflected in price.

Score 65 — Scatec leads on 5d momentum (+5.6%) with a positive 20d return (+4.3%) and favorable renewable energy policy tailwinds, making it an attractive setup despite elevated sector volatility.

Score 82 — Kongsberg Gruppen is at its 20-day high (Rng 100%) with the strongest momentum in the universe (+4.2% 5d, +5.5% 20d, +5.9% vs MA), reflecting sustained defence/tech demand driven by elevated European security spending.

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Score 26 — Significant 20d decline (-8.4%) and the worst vsMA in the universe (-5.2%) with price near 20-day lows; elevated Vol (11.8%) adds risk.

Score 32 — Negative 5d and 20d returns with price below the 20-day MA and near 20-day lows; sector headwinds and missing spot price data weigh on near-term outlook.

Score 38 — Flattish 20d return is the best of the aquaculture trio but 5d momentum is negative and price sits below the 20-day MA, limiting conviction.

Score 58 — Positive momentum on both 5d (+3.6%) and 20d (+1.4%) with price above the 20-day MA and in the middle of the 20-day range; renewable energy sentiment supports.

Score 62 — Strong 5-day rally (+4%) and a move into the upper third of the 20-day range makes Orkla the standout defensive momentum play in a volatile tape.

Score 65 — Steady positive momentum on both 5d and 20d timeframes, low volatility (Vol 2.5%), and a healthy range position make DNB one of the most stable setups in the portfolio.

Score 78 — Kongsberg sits at 91% of its 20-day range with strong 5d (+4.5%) and 20d (+2.1%) momentum and a positive vsMA, reflecting sustained defense-spending tailwinds.

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Score 44 — Orkla shows tentative stabilisation with a +0.9% weekly gain and near-neutral vsMA, but the -4.4% monthly return and modest 41% range position suggest only a weak recovery attempt.

Score 52 — Storebrand offers low volatility and a slight positive weekly gain but flat 20-day returns and a middling range position make it a hold rather than a buy at this stage.

Score 55 — Subsea 7's strong +4.1% weekly rebound is encouraging for the offshore services sector, but the -4.8% monthly return and below-MA position suggest the bounce needs confirmation.

Score 58 — Scatec shows constructive momentum with +2.5% weekly and +3.8% monthly gains near its 20-day MA, reflecting improving renewables sentiment and a stable EUR/NOK backdrop for project financing.

Score 68 — DNB displays the most stable and consistent momentum in the portfolio with +1.5% weekly, +1.3% monthly, positive vsMA, and very low volatility (2.5%), underpinned by a solid Nordic banking backdrop.

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Score 38 — Subsea 7 is down -5.0% over 20 days and near the bottom of its range, though elevated oilfield services demand from high Brent provides a partial offset.

Score 52 — Aker BP benefits from elevated Brent at $97.58 and roughly flat 20-day momentum, positioning it as a moderate buy on energy macro tailwinds despite soft near-term price action.

Score 55 — Scatec shows positive momentum — +3.6% monthly, +1.3% above its 20-day MA, and at the midpoint of its range — a constructive but unconfirmed setup.

Score 56 — DNB shows the lowest volatility in the universe (Vol 2.5%) and broadly stable price action, making it a reliable defensive hold in a mixed macro environment.

Score 72 — Equinor is the strongest energy name — near 20-day highs (88% range), +5.0% monthly and positive weekly momentum, all supported by high Brent crude prices.

Score 78 — BW LPG is at 98% of its 20-day range with +6.2% monthly and +4.4% weekly gains, indicating strong shipping rate momentum and a clear bullish trend.

Score 82 — Kongsberg Gruppen is the top momentum name — +6.4% weekly, +2.4% monthly, sitting at 96% of its 20-day range, consistent with strong defence/industrial demand trends.

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Score 80 — Kongsberg Gruppen surged +6.8% over the past week to its 20-day high with the strongest vsMA in the universe, signalling strong defence-driven momentum and clear near-term bullish setup.

Score 76 — BW LPG leads the monthly return chart (+11.3%), is at its 20-day high, and trades well above its MA — strong LPG shipping market dynamics make this the clearest momentum buy in the universe.

Score 53 — Scatec shows constructive mid-range positioning, a positive vsMA, and a solid 20d return — the renewables tailwind and stable setup justify moderate conviction with no major headwinds visible.

Score 52 — DNB shows stable, low-volatility characteristics and a modest positive 20d return, but is slightly below its MA and in the lower third of range — a solid hold with limited upside catalyst.

Score 50 — Yara's positive 20d return and mid-range positioning offer modest optimism, but the recent 5d pullback and marginal negative vsMA temper enthusiasm in a mixed fertiliser macro backdrop.

Score 36 — Subsea 7 has suffered a -6.2% monthly decline and sits in the lower third of its range with elevated volatility, reflecting sector uncertainty despite long-term energy services demand.

Score 25 — Norsk Hydro is the weakest momentum name in the universe — -5.5% in five days, near its 20-day low, deeply below its MA, with the highest realised volatility, signalling clear near-term risk.

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Score 72 — Kongsberg surges +5.9% in 5 days and holds 80% of its 20-day range, likely driven by continued European defence spending momentum, though 20d return is mildly negative.

Score 57 — DNB's ultra-low volatility (3.8%) and stable positioning around its 20-day average offer defensive quality, though slightly negative 5d momentum and modest 20d gains limit upside conviction.

Score 52 — Mowi shows modest 20d momentum (+1.3%) but a weak 5-day decline and low range position (32%) with no salmon spot price data available to confirm a bullish thesis.

Score 46 — Storebrand offers extremely low volatility (3.7%) but momentum is negative across both 5d and 20d horizons, with the price sitting in the lower 13% of its 20-day range.

Score 38 — Subsea 7 is caught in a downtrend with -7.3% over 20 days, a -2.6% vsMA, and moderate volatility — despite oil price strength, oilfield services sentiment remains subdued.

Score 35 — Orkla's -11.2% 20-day return is the steepest decline among consumer staples names, with the price stuck at just 4% of its 20-day range and no visible recovery catalyst.

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Score 78 — BW LPG surges with the best 5-day return in the universe (+8.8%), sitting at its 20-day high with strong 20d momentum, likely driven by tightening LPG shipping markets.

Score 60 — Telenor offers the most stable momentum profile in the universe — low volatility (Vol 3.0%), positive across all timeframes, and near the top of its 20-day range with defensive telecoms appeal.

Score 50 — DNB is a stable, low-volatility name holding near its 20-day MA with moderate range position, offering defensive ballast but lacking a near-term positive catalyst.

Score 48 — Kongsberg shows modest 5d recovery (+2.1%) but remains -6.4% over 20 days and below its MA, offering a potential mean-reversion trade in a defence-supportive environment.

Score 35 — Subsea 7 trades near its 20-day lows with -8.2% monthly decline and sits only at the 23rd percentile of its range, though high oil prices are a mild structural positive.

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Score 88 — EQNR is the standout pick — at its 20-day high, +9.8% monthly gain, +7.7% last week, with Brent at $108/bbl providing a powerful macro tailwind.

Score 82 — AKRBP is at its 20-day high with +6.6% monthly momentum directly benefiting from Brent crude at $108/bbl, offering a strong near-term setup.

Score 67 — YAR has rallied +10.2% over the month and holds at 80% of its 20-day range, with fertiliser prices potentially supported by energy cost dynamics at elevated Brent levels.

Score 58 — TEL offers low-volatility defensive appeal with mild positive momentum, sitting comfortably above its 20-day MA — a safe haven in a mixed market environment.

Score 32 — STB sits exactly at its 20-day low with a -3.0% monthly decline and deteriorating short-term momentum, making it a weak setup despite low volatility.

Score 25 — ORK is in a sharp downtrend with a -11.2% monthly decline, trading near 20-day lows at just 7% of its range — bearish technical setup with no visible catalyst.

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Score 46 — TEL offers defensive stability with the lowest volatility in the universe and flat momentum, but the weak technical position (20% of range, slightly below MA) and rising yields reduce near-term appeal.

Score 35 — KOG faces near-term momentum headwinds (-7.9% 20d, near 20-day lows) despite its strong structural defence/aerospace growth story; the technical setup argues for waiting for stabilisation.

Score 33 — SUBC has broken down technically — near its 20-day low at just 2% of range, -5.5% 20d, -3.9% vs MA — and despite oilfield services benefiting from high crude, the momentum deterioration dominates.

Score 24 — ORK sits at its 20-day low (-12.5% 20d, -5.2% vs MA) with deteriorating momentum and no positive catalysts; rising input costs from a stronger USD and higher yields add further pressure to this consumer staples name.

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Score 82 — Equinor sits at its 20-day high with +10.2% monthly return and +4.5% above MA, fully benefiting from Brent crude at $106.78 — strongest combined macro and momentum signal in the universe today.

Score 78 — Exceptional momentum at 20-day high with +11.2% monthly and +5.9% above MA signals strong trend continuation in the aquaculture sector.

Score 76 — BW LPG sits at its 20-day high with strong +9.8% monthly return and +4% above MA, benefiting from elevated commodity shipping dynamics and a supportive USD/NOK for USD-denominated revenues.

Score 72 — Brent at $106.78 provides a strong earnings tailwind, with price near 20-day high and robust +6.8% monthly return supporting the bullish setup.

Score 58 — Modest positive momentum with price above 20-day MA and mid-range positioning provides a moderate buy signal in a supported salmon sector.

Score 32 — Kongsberg Gruppen is near its 20-day low with -7.9% monthly return and price below its MA, suggesting a pullback that has yet to find support despite strong long-term fundamentals.

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Score 80 — EQNR is at its 20-day high with +6.5% monthly momentum and +5.3% above its MA, with high-oil-price tailwinds from Brent at $105 and a modest USD/NOK of 9.29 supporting strong NOK earnings.

Score 70 — SALM is at 93% of its 20-day range with an impressive +8.2% monthly return and +5.3% above its MA, making it the strongest momentum name in aquaculture despite higher realised volatility.

Score 65 — MOWI shows constructive momentum with positive 5d/20d returns, sitting near the top of its 20-day range at 82%, supported by generally firm salmon sector dynamics and relatively low volatility.

Score 45 — Storebrand has marginally negative momentum on both 5d and 20d, sitting in the lower quartile of its range, though extremely low realised volatility limits downside risk.

Score 36 — SUBC has drifted lower with -2.9% last week and sits in just the 12th percentile of its 20-day range, signalling fading momentum despite the supportive oilfield services macro backdrop.

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Score 82 — Aker BP sits at 99% of its 20-day high with strong momentum and Brent crude at $100/bbl providing a direct earnings tailwind — a clear near-term buy setup.

Score 80 — Yara is at the 20-day high with the strongest monthly momentum in the universe (+10.1%) and benefits from elevated energy prices feeding through to fertiliser pricing power.

Score 76 — DNB is at the absolute 20-day high with the best volatility profile in the universe (Vol 4.5%) and benefits from ECB-driven rate hike expectations boosting net interest margins.

Score 75 — Scatec leads the universe with +8.3% weekly and +12.3% monthly gains, trading at a 20-day high — strong technical momentum though elevated volatility warrants monitoring.

Score 72 — Equinor benefits from $100 Brent crude and trades near the upper portion of its 20-day range with solid monthly momentum, offset slightly by geopolitical tail risk in its operating regions.

Score 63 — SalMar sits near the upper quarter of its 20-day range with strong 20d momentum (+7.7%) and is positioned above its 20-day MA, reflecting resilient aquaculture demand.

Score 57 — Mowi shows constructive momentum — positive 5d and solid 20d return at mid-range — supported by elevated Brent and a weak NOK benefiting salmon export revenues.

Score 47 — Telenor offers defensive stability with the second-lowest volatility in the universe, but negative 5-day return and mid-range positioning reflect limited near-term upside catalysts.

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Score 76 — BW LPG leads the entire portfolio on momentum — +13.9% over 20 days, +5.5% above MA, at the very top of its 20d range, supported by robust LPG shipping rates and high crude-linked energy activity.

Score 74 — DNB sits at the top of its 20d range (100% Rng), has the highest positive vsMA reading among financials (+2.0%), and benefits from a stable Nordic macro backdrop supporting loan quality.

Score 73 — Scatec is the renewables standout — at the very top of its 20d range (100% Rng), +9.4% over 20 days, and +4.6% above its MA, signalling strong positive momentum with no bearish catalysts.

Score 72 — Yara is the top performer in Materials with +9.9% over 20 days, +4.0% above its MA, and at 88% of its 20d range, reflecting improving fertiliser pricing and USD/NOK tailwinds for this exporter.

Score 70 — Equinor is well-positioned with Brent near $99, positive 5d and 20d momentum, and a large diversified energy portfolio providing stability at current crude prices.

Score 68 — Aker BP benefits directly from elevated Brent crude ($98.89/bbl), positive 20d momentum (+6.7%), and a constructive technical setup trading near the upper half of its range.

Score 65 — Norsk Hydro shows solid 20d momentum (+3.6%), trades above its MA, and sits at 83% of its range — a clean technical setup supported by aluminium demand and a weaker NOK benefiting export revenues.

Score 62 — Storebrand exhibits the lowest volatility in the portfolio (Vol 3.1%), sits at 81% of its 20d range with positive vsMA, offering a stable low-risk setup despite modest absolute momentum.

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Score 74 — DNB sits at its 20-day high (Rng=100%), with +3.9% 20d momentum, positive vsMA, and the lowest volatility in the universe — a high-quality setup for Norway's leading bank.

Score 72 — Yara leads the materials sector with +9.9% 20d return, +4.0% above MA, and Rng at 88% — strong fertiliser price momentum and a clear technical breakout support near-term conviction.

Score 70 — Equinor benefits directly from elevated Brent crude prices with +5.8% 20d momentum, positive vsMA, and the scale/diversification of a major integrated energy company.

Score 68 — Brent crude near $98/bbl provides a strong sector tailwind; AKRBP shows solid +6.7% 20d momentum, positive vsMA, and mid-upper range positioning with relatively low volatility.

Score 65 — Norsk Hydro shows solid +3.6% 20d momentum, sits at 83rd percentile of its range, and is 2% above MA — aluminium price support and stable vol make this a constructive setup.

Score 38 — Telenor sits near 20d lows (9th percentile) with negative 5d and 20d returns and below-MA positioning, reflecting sector-wide defensive fatigue and limited near-term catalyst.

Score 37 — Kongsberg Gruppen is near its 20d lows (4th percentile) and below its MA despite resilient long-term defence demand, signalling short-term technical weakness after a strong run.

Score 35 — Subsea 7 sits at its 20-day low (Rng=0%) and is 3.3% below its MA despite modest 20d decline, suggesting near-term technical weakness even as offshore capex remains elevated.

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Score 78 — BW LPG leads the universe on 20-day momentum (+13.9%), sits at its 20-day high, and benefits from strong LPG shipping rates, though high volatility limits a higher score.

Score 75 — Scatec is at its 20-day high with the strongest vs-MA reading (+4.6%) in the universe and +9.4% monthly return, signalling strong near-term buying interest in renewables.

Score 65 — Norsk Hydro shows consistent positive momentum (+3.6% 20d, 83% range, +2.0% vs MA) with moderate volatility, supported by aluminium demand and a weaker NOK for exports.

Score 62 — Storebrand shows low volatility and solid 81% range position but near-flat 20d return limits near-term conviction, though rising rates support insurance/savings earnings.

Score 46 — Modest positive 20-day return but recent weekly weakness and mid-range positioning leave Mowi in a neutral-to-slightly-cautious setup absent salmon spot data.

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