The decline resumes after the pause
Companhia Siderurgica Nacional stock falls 9.7% as sellers regain control
The decline resumes after the pause
Our view last week
Companhia Siderurgica Nacional's 6.1% rebound comes off a clean double bottom in the 4.5 area, with a 9% intermediate bounce: but under the surface buyers are losing steam, dominance fading and distribution still underway. Weekly technical analysis shows the RSI still low, at 38.8. Companhia Siderurgica Nacional's Sell signal has been under management for 23 weeks, with the short more than 38% in the money.
This week's summary
Trading latinoamerica: Companhia Siderurgica Nacional stock drops 9.7% and wipes out last week's bounce as sellers regain full control. Sell volume hits 92% of the week and the CMF slides to its most negative reading in a month. The Sell signal has been under management for 24 weeks, with the short over 44% in the money. Earnings land this very week, on August 5 — expect extra volatility.
Ongoing decline
·25th week from start
·Rest of the World stocks
·T2
·📅 Earnings · Aug 5
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IQS Phase
77
in tension
Signal Strength
47
decline starting to make lower lows
Sizing
REDUCED
Ranking
#4 / 18
Rest of the World stocks
Trade P&L %
+44.56%
from signal to date, no stop loss
Rank position
ranks 4th among the 18 sell signals for titoli resto del mondo in our ranking, with a signal strength of 47 out of 100.
Sector context
SectorMaterials
Benchmark ETFXLB
Sector regimeweak phase
Performanceweekly -1.62% · monthly -1.16%
CSNA3 belongs to the materials sector (reference ETF XLB). The sector is classified weak phase according to our weekly reading.
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