Sell signal under management, fifth week
International Petroleum gains 2.9% as the decline slows and the ADX weakens
Sell signal under management, fifth week
Our view last week
International Petroleum's shares closed the week flat, but underneath something is moving: a clean double bottom in the 206 area triggered a 5% intraday rebound, and the Sell signal has lost its fresh push — strength drops to 10 out of 100. In this week's technical analysis the setup quality indicator (IQS) stays high, at 78, in a tension phase. The stock ranks 34th among the 54 European-UK sell signals, and our quality band flags trading not recommended.
This week's summary
The sell signal on International Petroleum has been under management for five weeks: after last week's clean double bottom in the 206 area, the price added another 2.9% and is now compressing between the daily upper Bollinger Band, in the 219 area, and the 20-day average, in the 214 area. The weekly ADX keeps sliding and money flow is easing: the decline is losing its edge. The short, though, remains in profit, just above 3%.
IQS Phase
62
ordinary
Signal Strength
2
decline losing steam
Sizing
MINIMUM
Ranking
#40 / 53
EU-UK stocks
Trade P&L %
+2.93%
from signal to today
restricted Platinum content