Sell signal, week 22: rebound rejected again
Companhia Siderurgica Nacional +7.5%, but the bounce stalls at its 7-day high
Sell signal, week 22: rebound rejected again
Our view last week
Week 21 of the sell signal on Companhia Siderurgica Nacional, and the week closed up 1.9%, with buy volume climbing to 92%. The price sits between the first support, the daily pivot point average in the 4.77 area, and the first resistance, the daily pivot point in the 4.86 area. The trade is up 44.8% since entry.
This week's summary
Companhia Siderurgica Nacional is up 7.5% this week, the second straight gain after the double bottom two weeks ago in the 4.5 area. But for the third time the rebound has stalled at the 7-day high, the 5.2 area, and been firmly rejected. The sell signal is in its 22nd week and stays deep in the money, above 40%: the decline still holds control, even as buyers push back harder.
Ongoing decline
·22nd week from start
·Rest of the World stocks
·T2
·📅 Earnings · Aug 5
★ See Gold version →
IQS Phase
75
in tension
Signal Strength
2
decline losing steam
Sizing
MINIMUM
Ranking
#17 / 21
Rest of the World stocks
Trade P&L %
+40.66%
from signal to today
restricted Platinum content