Diageo rebounds 3.3% in week 10 of a buy signal
Diageo rebounds 3.3% off the double bottom, but buyers start to fade
Diageo rebounds 3.3% in week 10 of a buy signal
Our view last week
Diageo gave back 0.7% this week: buyers are still in control on the daily chart, but on the weekly the dominance is thinning, with sellers slightly ahead on the last bar, against a still-weak European consumer staples sector. The double bottom in the 1470 area, with its 9% rebound, remains the technical anchor. Diageo stays an open buy, now -1.3% since entry versus -0.65% a week ago: our technical analysis is tracking the next management window closely.
This week's summary
After last week's decline, Diageo rebounds 3.3% and returns to the double bottom in the 1470 area, up 8% from its lows. The trade stays an open buy in its 10th week, now in profit: but beneath the surface buyers are losing their edge, with contracting volumes and a weekly ADX turning lower. Diageo technical analysis: still a constructive picture, worth watching closely in the sessions ahead.
IQS Phase
48
ordinary
Signal Strength
56
medium
Sizing
STANDARD
Ranking
#20 / 61
EU-UK stocks in progress
Trade P&L %
+1.94%
from signal to today
restricted Platinum content