BASF: up 1%, but the signal turns cautious
BASF stock gains 1% as the buy signal shows its first signs of caution
Our view last week
After a confirmation week that closed higher, BASF slips 0.7% and the sequence of four rising daily lows, from the 48 area toward the 50 area, meets its first caution signs: contracting volumes and mixed rejection bars. BASF stock stays inside the buy signal that fired two weeks ago, with the European chemical sector still running strong. Weekly technical analysis: the picture holds, with a few more cracks than seven days ago.
This week's summary
Europe's chemical sector is running hot, with the reference ETF up 10% over the past month, and BASF is riding the wave: the week just closed adds 1%, the first positive close after a decline. BASF stock stays inside the buy signal that fired 3 weeks ago, but contracting volumes and fading candle bodies open a few doubts — weekly technical analysis that calls for a closer look.
IQS Phase
58
ordinary
Signal Strength
56
medium
Sizing
STANDARD
Ranking
#32 / 70
EU-UK stocks in progress
Trade P&L %
+2.52%
from signal to date, no stop loss
Rank position
ranks 32nd among the 70 Longs already running for European-UK stocks in our ranking, with a signal strength of 56 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXV6
Sector regimein positive regime
Performanceweekly +5.48% · monthly +10.32%
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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