Sell signal, week 8: the decline is losing steam
BASF gains 2.1%: money flow improves and the decline eases its pace
Sell signal, week 8: the decline is losing steam
Our view last week
Money flow on BASF turned sharply worse this week, with sellers regaining a slight edge after a calmer stretch. The Sell signal, under management for seven weeks and already up 6.43%, stays boxed into a tight corridor between the 47.6 and 46.7 areas, while a daily double bottom in the 47 area keeps the rebound case alive. Weekly technical analysis of a decline still stalling.
This week's summary
BASF shares closed the week up 2.1%, extending the 9% rebound off the double bottom in the 47 area: price is now pressing against the cluster of moving averages in the 49.2-49.3 area, a step away from the Inversion Point. Money flow stays negative but has halved in a week, and momentum has stopped worsening: signs of a decline starting to run out of breath. The short is still in profit, though down to 4.48% from 6.43% seven days ago.
IQS Phase
68
in tension
Signal Strength
2
decline fading out
Sizing
MINIMUM
Ranking
#41 / 53
EU-UK stocks
Trade P&L %
+4.48%
from signal to today
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