Ecolab weekly earnings and a breakeven stop crossed
Ecolab slips 1.5% and closes below its breakeven stop in earnings week
Ecolab weekly earnings and a breakeven stop crossed
Our view last week
Ecolab stock barely moved this week (-0.5%): sellers took over the last bar and volumes contracted. On the daily chart, though, the stock repeated last week's pattern with a fresh double bottom, higher this time, in the 256 area, and a 4% rebound. The Buy signal is in its fourth week: in our weekly technical analysis, Ecolab ranks 20th among 112 open US Longs, with signal strength 66 out of 100.
This week's summary
Ecolab stock is boxed into a very tight band between its 100-day and 200-day moving averages, with the weekly ADX fading and the MACD deteriorating: our weekly technical analysis reads a phase of indecision, with volumes contracting and mixed rejection candles. The buy signal is in its fifth week, and quarterly earnings land this very week. Price closed below the breakeven stop flagged in last week's card (269.12 area): for anyone following that level the trade is closed.
IQS Phase
59
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#21 / 124
US stocks in progress
Trade P&L %
-0.14%
from signal to date, no stop loss
Rank position
ranks 21st among the 124 Longs already running for US stocks in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorMaterials
Benchmark ETFXLB
Sector regimein positive regime
Performanceweekly +1.44% · monthly +0.20%
ECL belongs to the materials sector (reference ETF XLB). The sector is classified in positive regime according to our weekly reading.
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