In my prior post from early April, I mentioned that I was closely watching if the OMXIPI and OMXI15, the two main benchmarks for the Icelandic stock market, are in the process of reversing their long-term trends from down to up. So far both indices have held key support levels with the moving averages still properly oriented.Link to prior post: Iceland’s Stock Indices At Important Inflection Points | TalkMarketsBelow is a monthly chart of the OMX Iceland All-Share Price Index (OMXIPI). My Sentiment Swing Indicator has been rising under the zero line in recent months, which is a positive sign for the market. OMXIPI – Monthly Chart 
I wrote about the share price of Alvotech in mid-April (see here Alvotech’s Share Price At A Critical Juncture | TalkMarkets).It held its upward-slanting trendline and a key rising moving average, and has risen 28% in the last 18 days (on average, 1.6% per day) and well above the 2.000 ISK per share mark. I consider the longer-term trend of the stock price to be to the upside, as long as it stays above the purple and cyan moving average lines. The next potential resistance above current prices is found in the 2.152-2.180 area with the next possible support zone under current prices coming in at 1.970-1.935.It is a strong signal that Alvotech´s share price has been outperforming the overall market (OMXIPI), as can be seen in the relative performance indicator in the lower window of the chart. Share Price of Alvotech – Daily Chart 
More By This Author:Nasdaq Financial 100 Index Has Surpassed An Important Swing High
S&P 500 Index In A Downswing On The Weekly Chart
Alvotech’s Share Price At A Critical Juncture
