Cosan's first week down: caution on the fresh Long
Cosan drops 5.7% in its confirmation week: the signal calls for caution
Cosan's first week down: caution on the fresh Long
Our view last week
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.
This week's summary
Cosan closed its confirmation week down 5.7%, with sellers extremely dominant on the last bar and a distribution phase underway. Beneath that, though, the double bottom in the 3.3 area holds, with a 9% intermediate rebound: price is now boxed between a resistance and a support close by. In our weekly technical read, the signal calls for caution.
Open BUY
·1st week from start
·Rest of the World stocks
·T1
·📅 Earnings · Aug 14
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IQS Phase
32
ordinary
Signal Strength
70
high · wide & volatile
Sizing
FULL
Ranking
#2 / 10
Rest of the World stocks in progress
Trade P&L %
-5.65%
from signal to today
restricted Platinum content