Sell signal, week 14: the short is nearly back to even
CleanSpark drops 8.7% and slips back under its 50-week average as the decline regains pace
Our view last week
After 3 straight up weeks, CleanSpark stock gives back 3.6% and sellers take the stage again: 74% of the week's volume, against 99% on the buy side seven days ago. The daily price action prints a bearish engulfing, and the price pulls away from the Inversion Point it had nearly reached. On the technical analysis the decline lifts its head again, even though the MACD histogram is a step away from zero; the short is still down 10.5%.
This week's summary
An 8.7% drop takes CleanSpark stock back under its 50-week average and under the cluster of averages it had closed above just a week ago. Last week the MACD histogram was a step from zero; in this week's technical analysis it pulls away again, with RSI and momentum both falling. Price action stays bearish, yet contracting volumes and an ADX below 10 point to a modest push. Among US stocks on a sell signal, this short is nearly back to even.
IQS Phase
66
in tension
Signal Strength
48
downtrend making lower lows, pace holding
Sizing
REDUCED
Ranking
#43 / 175
US stocks
Trade P&L %
-0.95%
from signal to date, no stop loss
Cleanspark (CLSK) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 43rd among the 175 sell signals for US stocks in our ranking, with a signal strength of 48 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly +1.80% · monthly +8.83%
CLSK belongs to the growth tech sector (reference ETF XLK). The sector is classified in strong phase according to our weekly reading.
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