Cosan opens a fresh Long off a double bottom near 3.3
Cosan gains 7.7% and breaks out from a double bottom near the 3.3 area
Cosan opens a fresh Long off a double bottom near 3.3
Our view last week
Week 18 of the sell signal on Cosan, and the week closes at +0.5%, the fourth straight gain since the early-June low. Buy volume climbs to 84% and the daily chart has formed a double bottom with a 9% intermediate rebound. The decline holds on the directional front, but is losing push: here is the week-by-week technical read.
This week's summary
Cosan has just triggered a fresh buy signal: the week closes up 7.7% with a breakout above the 7-day high, right off the daily Kumo floor. Behind the move sits a clean double bottom near the 3.3 area, with a 9% intermediate rebound and almost all of the daily volume on the buy side. Cosan weekly technical read: first among the 2 new Rest of the World Longs, signal strength 76 out of 100, though weekly volume is contracting.
IQS Phase
39
ordinary
Signal Strength
76
high · wide & volatile
Sizing
FULL
Ranking
#1 / 2
New rest of the world stocks
Trade P&L %
+0.00%
from signal to today
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