Eighth week, the decline is losing steam
BASF closes flat (+0.1%) as the Sell signal loses steam near the 49 area
Eighth week, the decline is losing steam
Our view last week
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.
This week's summary
The eighth week of BASF's Sell signal closes almost flat, +0.1%, with price glued to the moving-average cluster in the 49 area and the weekly ADX down to 17.4: the trend is losing conviction. On the last bar sellers still slightly outweigh buyers, while volumes contract. The short remains in profit at 4.4%: our technical analysis is now watching whether the 49 area holds.
IQS Phase
52
ordinary
Signal Strength
2
decline fading out
Sizing
MINIMUM
Ranking
#43 / 56
EU-UK stocks
Trade P&L %
+4.43%
from signal to today
Rank position
ranks 43rd among the 56 sell signals for European-UK stocks in our ranking, with a signal strength of 2 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXV6
Sector regimein positive regime
Performanceweekly +3.13% · monthly -0.21%
BAS belongs to the european sector (reference ETF EXV6). The sector is classified in positive regime according to our weekly reading.
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