Monte dei Paschi bounces 4.1% as the ADX keeps climbing
Monte dei Paschi rebounds 4.1% as the trade's coverage reaches completion
Monte dei Paschi bounces 4.1% as the ADX keeps climbing
Our view last week
Banca Monte dei Paschi di Siena stock closes the week down 0.9%, but the number that matters is in the volume: almost 80% of the last session's trading was on the sell side, with the price action flagging sellers dominant to an extreme. Price stays boxed into a tight range between support and resistance, while the ADX keeps climbing — the trend is still gaining conviction. Weekly technical analysis: the trade has been under management since week 13, up nearly 22%.
This week's summary
Weekly technical analysis: Monte dei Paschi stock jumps 4.1% this week, with 96% of trading on the buy side — a sharp reversal from last week's heavy selling. The bounce comes off a clean double bottom in the 11 area: weekly RSI up to 70.4, ADX still climbing, above 33. The trade, running for 14 weeks now, sits at a 26.9% gain.
IQS Phase
56
ordinary
Signal Strength
79
high · wide move
Sizing
FULL
Ranking
#6 / 59
EU-UK stocks in progress
Trade P&L %
+26.89%
from signal to today
Rank position
ranks 6th among the 59 Longs already running for European-UK stocks in our ranking, with a signal strength of 79 out of 100.
Sector context
SectorItalian
Benchmark ETFEXV1
Sector regimein positive regime
Performanceweekly +2.20% · monthly +2.61%
BMPS belongs to the italian sector (reference ETF EXV1). The sector is classified in positive regime according to our weekly reading.
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