Strong bounce, but momentum keeps worsening
Constellation Energy bounces 5.1% on 92% buying volume, but momentum keeps sinking
Strong bounce, but momentum keeps worsening
Our view last week
Week 14 of the sell signal on Constellation Energy, up 12.3% since opening. The week closed down 9.4%, with sell volume at 73%: after a mid-June lull, the technical picture is worsening again, with CMF and momentum both diving. On the daily chart, though, a double bottom in the 239 area is still holding, with a 20% intermediate rebound.
This week's summary
Constellation Energy bounced 5.1% this week on buying volume at 92% of the tape, pushing price up against its 7-day high. The Sell signal has been under management since week 15, with the short up roughly 8%. Underneath, though, the picture doesn't fully convince: momentum accelerated to the downside and the weekly MACD kept worsening.
IQS Phase
68
in tension
Signal Strength
36
decline losing steam
Sizing
REDUCED
Ranking
#28 / 137
US stocks
Trade P&L %
+7.86%
from signal to today
restricted Platinum content