Open buy · week 4
Companhia Siderurgica Nacional gains 3.7% and breaks its run of lower highs
Our view last week
A bounce without buyers: after last week's 12.2% drop, Companhia Siderurgica Nacional stock recovers 1.7%, yet in the weekly bar buying stays below 25% of volume and the price action points to distribution. Money flow has been negative for 2 weeks. The buy signal holds and tops its ranking, with price squeezed between the 20-day moving average, in the 6.02 area, and the 100-day moving average, in the 5.84 area: a swing trading setup that calls for patience.
This week's summary
The run of 4 lower highs that had weighed on the daily chart since September 10 is over: on October 2 a close rose above the last high. Companhia Siderurgica Nacional stock ends the week up 3.7%, after testing its 20-week moving average in the 5.8 area. A week ago the bounce had closed in the lower part of its range; now the weekly MACD is improving, though money flow has been negative for 3 weeks. A swing trading setup, waiting for a close above the 7-day high.
IQS Phase
51
ordinary
Signal Strength
86
high · wide & volatile
Sizing
FULL
Ranking
#1 / 20
Rest of the World stocks in progress
Trade P&L %
-2.99%
from signal to date, no stop loss
CSN (CSNA3) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 1st among the 20 Longs already running for titoli resto del mondo in our ranking, with a signal strength of 86 out of 100.
Sector context
SectorMaterials
Benchmark ETFXLB
Sector regimeweak phase
Performanceweekly -1.89% · monthly -7.72%
CSNA3 belongs to the materials sector (reference ETF XLB). The sector is classified weak phase according to our weekly reading.
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