Sell signal in management, week 22
Companhia Siderurgica Nacional slips 2.5% as the Sell signal retakes control
Sell signal in management, week 22
Our view last week
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.
This week's summary
Companhia Siderurgica Nacional's Sell signal has been under management for 22 weeks, with the short more than 42% in the money. After the rejection at its 7-day high, in the 5.4 area, the week gave back 2.5%: sellers are back in charge, with the last candle almost entirely on the sell side and distribution deepening. The weekly ADX is climbing, the trend gaining conviction: the decline has retaken control after the past two weeks' bounce.
Ongoing decline
·23rd week from start
·Rest of the World stocks
·T2
·📅 Earnings · Aug 5
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IQS Phase
74
in tension
Signal Strength
5
decline losing steam
Sizing
MINIMUM
Ranking
#13 / 16
Rest of the World stocks
Trade P&L %
+42.15%
from signal to today
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