Buy signal, week 3: early technical warnings
Ecolab slips 3.2% as buyers retreat, but the double bottom holds
Buy signal, week 3: early technical warnings
Our view last week
Ecolab is at week 2 of a new buy signal, confirmed by the week following the entry: the trade is already up 5.29% and signal strength stands at 55 out of 100, a balanced picture rather than an acceleration. Price is squeezed between a nearby resistance and support, with earnings coming up in three-four weeks, on July 28.
This week's summary
Ecolab gives back 3.2% this week: underneath the red candle, buyer dominance collapsed and sellers ruled the last bar to an extreme. The daily chart tells a different story, though, with a clean double bottom in the 251 area and a 5% intermediate rebound. In this week's technical analysis, the Buy signal is in its third week, with the trade still up 1.93% from entry.
IQS Phase
59
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#27 / 129
US stocks in progress
Trade P&L %
+1.93%
from signal to today
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