Sell signal in its sixth week of management
International Petroleum climbs 1.4% as the decline consolidates between two technical walls
Sell signal in its sixth week of management
Our view last week
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%.
This week's summary
After last week's rebound, International Petroleum is consolidating tightly between the daily upper Bollinger Band, in the 220.9 area, and the 20-day average, in the 215.6 area. Money flow, though, turns worse again after weeks of improvement, while the weekly ADX keeps sliding: the decline keeps losing its edge. The short remains in profit, but the margin has narrowed from a week ago.
IQS Phase
57
ordinary
Signal Strength
2
decline losing steam
Sizing
MINIMUM
Ranking
#41 / 56
EU-UK stocks
Trade P&L %
+1.58%
from signal to today
Rank position
ranks 41st among the 56 sell signals for European-UK stocks in our ranking, with a signal strength of 2 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXH1
Sector regimein positive regime
Performanceweekly +4.02% · monthly +9.24%
0V1L belongs to the european sector (reference ETF EXH1). The sector is classified in positive regime according to our weekly reading.
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