I have a hunch that the invasion of Ukraine a month ago triggered an accelerated rotation of money into certain commodity stocks that previously were not outperforming, such as uranium and nickel. Looking at a ratio of the most beaten down salmon farmer in Norway, Atlantic Sapphire (which is also the largest land aquaculture company in the world, but has a large amount of debt and experienced a crash in profits due to lockdowns), with the Russell 2000 (the most beaten down American index, small cap companies), it looks like the salmon farmer abruptly broke its trend and formed a sort of diamond reversal pattern set to test a resistence line that -- if broken -- looks like it has a lot of room to move on up.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.