Sell signal under management, week 11
ENGIE bounces 3.5% off its double bottom, but stalls against the 27.9 wall
Sell signal under management, week 11
Our view last week
Money flow on ENGIE has just turned positive after weeks of seller pressure: last week the stock dropped 3.1% with sell volume at 84%, this week it closes essentially flat (-0.1%) and the technical picture is cooling on every front. In ENGIE's technical analysis the price stays boxed between the 26.7 area and the 27 area, with the double bottom near the 26 area still the floor. ENGIE stock remains inside a mature sell signal, with no fresh downside push.
This week's summary
ENGIE stock rebounds 3.5% off the double bottom in the 26 area, but the rally slams straight into the wall around 27.9 — the daily Kumo ceiling, already rejected four times. The sell signal has been under management for 11 weeks, with the short slightly underwater, at -2.96%. Money flow has turned positive and the ADX is losing steam: the trend no longer carries the conviction it had a month ago.
IQS Phase
42
ordinary
Signal Strength
2
decline fading out
Sizing
MINIMUM
Ranking
#52 / 56
EU-UK stocks
Trade P&L %
-2.96%
from signal to today
Rank position
ranks 52nd among the 56 sell signals for European-UK stocks in our ranking, with a signal strength of 2 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXH9
Sector regimein positive regime
Performanceweekly +0.44% · monthly +3.14%
ENGI belongs to the european sector (reference ETF EXH9). The sector is classified in positive regime according to our weekly reading.
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