A2A S.p.A.: decline slows, but distribution pattern holds

A2A S.p.A. is in week 5 of a sell signal. The week closed nearly flat (−0.3%) with buy volume rising sharply to 70%, a clear shift from the prior week's 99% sell-side dominance. A double bottom is forming in the 2.2 area on the daily chart, with an intermediate 9% rebound. CMF and MACD remain in negative territory, however: the bearish structure holds, but short-term exhaustion signals are beginning to emerge.