Sell signal, week 5: third straight weekly gain
Credo Technology gains 3.6% and the weekly close moves past the Inversion Point
Our view last week
Credo Technology closes the week up 19.9%, driven by a 12% bounce off the 20-day moving average, in the 189 area. It's a second straight weekly gain, with buyers in charge of the tape and weekly money flow back in positive territory after 12 weeks. Credo Technology stock is climbing back toward the Inversion Point, in the 217 area, and the Sell signal is still standing with almost no push left: signal strength drops to 2 out of 100.
This week's summary
A third straight weekly gain for Credo Technology, +3.6%, with money flow positive for 2 weeks. On Credo Technology stock the model's signal is still a sell, but price action is on the mend. The close and the Inversion Point, in the 217 area, have already crossed with no change of sign declared: one to watch in the coming sessions.
IQS Phase
47
ordinary
Signal Strength
2
decline nearly over
Sizing
MINIMUM
Ranking
#153 / 175
US stocks
Trade P&L %
-28.18%
from signal to date, no stop loss
Credo Technology (CRDO) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 153rd among the 175 sell signals for US stocks in our ranking, with a signal strength of 2 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly +1.80% · monthly +8.83%
CRDO 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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