EssilorLuxottica sheds 1.9% as sellers retake control
EssilorLuxottica sheds 1.9% as sellers retake the weekly wheel
EssilorLuxottica sheds 1.9% as sellers retake control
Our view last week
EssilorLuxottica shares shed another 2.7% and stay boxed under the 170 area, with the sell signal now in its 32nd week. This week's technical read confirms what showed up seven days ago: MACD, money flow and momentum keep improving, and this time sellers lose ground too, down from 61% to 55% of volume. On the daily chart a double bottom holds in the 162 area, with an 11% rebound. The short is running above 40% in profit.
This week's summary
After last week's bounce, sellers are back in charge of EssilorLuxottica stock: 68% of this week's volume was on the sell side and the shares shed another 1.9%, with the weekly RSI down to its lowest point of the period, at 30. The daily chart tells a different story: the double bottom in the 161 area holds, with an 11% rebound and the last session fully buy-dominated. The short is running above 42% in profit, and earnings land this very week, on July 28.
IQS Phase
57
ordinary
Signal Strength
62
downtrend making lower lows, pace holding
Sizing
STANDARD
Ranking
#9 / 56
EU-UK stocks
Trade P&L %
+42.04%
from signal to today
Rank position
ranks 9th among the 56 sell signals for European-UK stocks in our ranking, with a signal strength of 62 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXV4
Sector regimein positive regime
Performanceweekly +0.19% · monthly -0.21%
EL belongs to the european sector (reference ETF EXV4). The sector is classified in positive regime according to our weekly reading.
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