Third rebound attempt for the European auto ETF
EXHG climbs 0.8%: the bounce looks for confirmation as sellers stay in play
Our view last week
EXHG's Sell signal, the ETF tracking European auto and parts stocks, has reached its 8th week under management, with the short down 4.5%. After two failed rebound attempts the price slips 0.9% again, with 76% of volume on the sell side and distribution deepening. Weekly RSI ticks up toward 48 and money flow stays negative, though off its recent low: the decline still holds, without fresh momentum.
This week's summary
After two failed rebound attempts in prior weeks, EXHG tries a third: the week closes up 0.8%, with 85% of volume on the buy side and weekly RSI back up to 49. The MACD stays above its Signal line and the histogram is growing, but the distribution phase hasn't closed yet and the last candle shows a weak body: for now, the bounce remains an attempt still to be confirmed.
IQS Phase
38
ordinary
Signal Strength
2
decline nearly over
Sizing
MINIMUM
Ranking
#41 / 46
EU-UK stocks
Trade P&L %
-5.42%
from signal to date, no stop loss
Rank position
ranks 41st among the 46 sell signals for European-UK stocks in our ranking, with a signal strength of 2 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETFEXHG
Sector regimein strong phase
Performanceweekly +0.84% · monthly +3.39%
EXHG belongs to the etf settoriale sector (reference ETF EXHG). The sector is classified in strong phase according to our weekly reading.
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