EcoRodovias: the decline keeps losing ground
EcoRodovias climbs 2.8% as the Sell signal keeps losing steam
EcoRodovias: the decline keeps losing ground
Our view last week
EcoRodovias is in week 8 of a sell signal, and the week just closed recovered 2.2% with buying volume at 75%. The technical picture of the past few days is milder: the MACD histogram has narrowed versus the prior three weeks and momentum is climbing back, a sign the decline holds but is losing steam. Price has moved back close to the daily pivot zone.
This week's summary
EcoRodovias has strung together its third straight up week: +2.8% this time, with 88% of volume on the buy side, while the decline in place for 9 weeks keeps giving up ground. On the daily chart the bounce off the EMA20 has gained 10%, and price now sits boxed between the near-term resistance, in the 7.86 area, and the support just below, in the 7.75 area. Versus last week the technical picture keeps improving, though the weekly structure is still marked by contracting volumes.
Ongoing decline
·9th week from start
·Rest of the World stocks
·T2
·📅 Earnings · Jul 30
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IQS Phase
64
ordinary
Signal Strength
2
decline fading out
Sizing
MINIMUM
Ranking
#18 / 21
Rest of the World stocks
Trade P&L %
-2.51%
from signal to today
restricted Platinum content