A2A: technical rebound near double bottom, decline still intact

A2A S.p.A. is at week 6 of a sell signal: after 3 consecutive declining weeks, this week closed up 1.3%, with buy volume rising back to 76%. A double bottom in the 2.2 area is forming on the daily chart, with an intermediate rebound of 9%. However, CMF has dropped to its most negative reading of the past 4 weeks, and flow remains in distribution.