SpareBank 1 SMN stock (Oslo): 214.80 kroner stopped price for 27 weeks, then held from below
A ceiling that stood for 27 weeks gave way in one, and the monthly chart has not yet agreed.
Every figure below was measured on September 28, 2026 and has not been updated since.
SpareBank 1 SMN closed the week starting 31 August at 215.70 kroner. It was
the first weekly close above 214.80 in the two years the weekly chart covers.
Three weeks later the last weekly close is 220.40.
You may have heard someone say the stock "got through resistance around 215".
Is that a fact about the chart, or a line drawn where price happened to turn?
214.80 kroner turned price back twice, in February and April, while 27
weekly closes in a row stayed below it. On 31 August a weekly close finally
went above. In September price came back down to the area twice, and both
times it held.
The rest of this post is the evidence for those three sentences. Every price
is a weekly close unless it says otherwise, which is where the stock ended
the week on a Friday.
First: what resistance is
A price where sellers have turned up before and stopped a rise. Support is
the same thing upside down: a price where buyers have turned up and stopped a
fall. When a resistance gives way and price then stands above it, the same
line is a candidate for support. That is the idea this post follows, and
whether it happens every time is exactly the part that has not been shown.
The weekly chart looks back two years. On it there are 16 prices you could
draw a line at, and price has turned at every one of them at some point.
But price has gone straight back through nine of those, between three and
nine times each, and four more are only clues. 13 of the 16 can be ignored.
The monthly chart looks back ten years. It finds 38 lines and trusts four
of them.
More lines do not mean firmer ground. Usually they mean price has moved
through that area easily, again and again.
One price axis, two charts, measured separately.
The weekly chart's three trusted levels are all below price: 214.80, 165.00
and 151.50. Above the last close of 220.40 it has no line at all.
The monthly chart trusts four: 214.60, 107.60, 106.10 and 58.20. Its last
settled month is August, which closed at 211.80, and 214.60 sits above that
close, 1.3% away. The next one down is 107.60, 49% away.
And here the two charts do something worth noticing. 214.80 on the weekly
chart and 214.60 on the monthly chart are the same price, worked out
separately from two years and ten years. Two charts agreeing on where is the
strongest evidence a level can get.
They do not agree on what happened there. On the weekly chart the level has
been crossed. On the monthly chart, it has not: August closed below it, and
September is still being drawn.
What made 214.80 matter
The area is 214.30 to 215.30, and price reached it only twice before the
break, both times this year.
The week starting 23 February went up to 215.30, the top of the area, and
closed at 213.50. The week starting 13 April reached 214.30, the bottom of
it, and closed at 210.20. Between the first of those and the break there are
27 weeks, and every weekly close in that stretch was below the area. None was
above.
Price reached the area twice and stayed below. Then it closed above, and came back twice.
Then, on 31 August, it went through
The week starting 31 August opened at 212.40, fell to 207.40, went as high as
215.90 and closed at 215.70. That is the crossing. The first weekly close
above the area.
Volume that week was 1.14 times the stock's own average over the trailing
year. Whether a break on heavier volume behaves differently afterwards has
not been measured here, so this post states the number and stops there.
And then the retests
The week starting 7 September opened at 215.45 and went down to 211.15,
back into the area, and closed at 214.75, still inside it. First retest.
The week starting 14 September went down to 210.00, below the area, and
closed at 216.75, above it. Second retest.
Both times price came back to the area and left it upward. That is what a
level that has held from the other side looks like in the data. Two weeks of
evidence, not two years. Not a confirmed change of role either.
The week starting 21 September did not reach the area at all: its low was
215.45, just above the top of it.
Where price is now
The last weekly close is 220.40. The nearest level the weekly chart trusts
is 214.80, 2.5% below. Under it come 165.00 and 151.50. Above price the
weekly chart has nothing to show.
The monthly chart's last settled close is August's 211.80, and its nearest
trusted level, 214.60, is 1.3% above that. September's month is not settled,
so what it closes at is not something anyone can say yet.
The charts are not in conflict, they are measuring at different speeds. The
weekly chart has seen a close above the area. The monthly chart is still
waiting for its own.
What 214.80 is good for
214.80 tells you nothing about where price is going. It tells you where you
would notice if the picture changed.
13 of the 16 lines on the weekly chart can be ignored. Price has gone through
nine of them three times or more, and four are only clues. Of the three
left, all are below price and one is 2.5% away. Knowing which is most of the
work.
One thing would cancel the whole reading: a weekly close below 214.30, the
bottom of the area. Then price is back under it, the way it spent the 27
weeks before. You would see that yourself, on a Friday, without anyone
telling you.
You may have noticed this post never says which way the price goes next.
Here is why. 1,350 breaks have been measured across the site's companies,
and whether the level held or not, the twelve weeks afterwards look the same
as any random week. Anyone who tells you different is guessing.
