Sell signal: ninth week, bounce rejected
EcoRodovias drops 9.4% as the decline retakes control after the bounce
Sell signal: ninth week, bounce rejected
Our view last week
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.
This week's summary
After three weeks of bouncing, the picture on EcoRodovias flips: this week the stock gives up 9.4%, with 96% of volume on the sell side. The rally that had been improving the technical read stalled right at resistance in the 7.86 area, and the decline, running for nine weeks now, is back in control. Underneath, the signals stay mixed: weekly RSI slips to 39, but the MACD histogram keeps narrowing.
Ongoing decline
·10th week from start
·Rest of the World stocks
·T2
·📅 Earnings · Jul 30
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IQS Phase
81
in tension / maturity
Signal Strength
61
decline starting to make lower lows
Sizing
STANDARD
Ranking
#4 / 16
Rest of the World stocks
Trade P&L %
+7.12%
from signal to today
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