Technical bounce, decline still in control
Companhia Siderurgica Nacional stock rebounds 6.7% but the decline stays in control
Our view last week
Companhia Siderurgica Nacional stock's decline brakes hard: after two brutal weeks, -9.7% then -5.6%, the latest one closes at just -1.8%, and buyers retake the lead with 57% of the week's volume on their side. The price stays boxed between the 7-day low and the daily pivot average: the Sell signal, under management for 27 weeks, still holds its direction, with the short over 48% in the money.
This week's summary
Companhia Siderurgica Nacional stock bounces 6.7% after three brutal weeks, with buyers commanding 93% of the week's volume. But the rally stalls right at the 7-day high, rejected decisively, while the daily sequence of lower highs stays intact. The Sell signal, under management for 27 weeks, keeps the short position above 45% in the money: our technical analysis tracks the trade week by week.
IQS Phase
63
ordinary
Signal Strength
3
decline losing steam
Sizing
MINIMUM
Ranking
#23 / 25
Rest of the World stocks
Trade P&L %
+45.13%
from signal to date, no stop loss
Rank position
ranks 23rd among the 25 sell signals for titoli resto del mondo in our ranking, with a signal strength of 3 out of 100.
Sector context
SectorMaterials
Benchmark ETFXLB
Sector regimein strong phase
Performanceweekly +1.90% · monthly +5.35%
CSNA3 belongs to the materials sector (reference ETF XLB). The sector is classified in strong phase according to our weekly reading.
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