Sell signal, 17th week of management
BAE Systems rebounds 1.6%, but the sell signal stays boxed between two averages
Sell signal, 17th week of management
Our view last week
BAE Systems closed the week down 6.6%, wiping out much of the prior week's rebound: sell volume at 90%, RSI back under 50, and money flow negative again. On the daily chart the stock still carved out a double bottom near the 1780 area with a 4% bounce, before settling into a tight range. It's week 16 of a sell signal, with the short already more than 10% in profit.
This week's summary
BAE Systems shares closed the week up 1.6%, with buyers back in control of volume (90%) after last week's rout. This week's technical analysis finds the sell signal in its 17th week of management, the short more than 9% in profit, but price is still boxed between the 20-day average in the 1877 area and the 50-week average in the 1908 area: a declining ADX says the trend is losing conviction, and a break is needed to call the next move.
IQS Phase
47
ordinary
Signal Strength
41
isolated weekly drop
Sizing
REDUCED
Ranking
#11 / 53
EU-UK stocks
Trade P&L %
+9.05%
from signal to today
restricted Platinum content