Eni: new buy signal ahead of Q2 earnings
Eni triggers a new buy signal and gains 6.1% on the eve of its earnings report
Eni: new buy signal ahead of Q2 earnings
Our view last week
Eni's sell signal is now 14 weeks old, and the bounce has turned persistent: three straight weeks higher, the latest closing up 4.3% off a clean double bottom in the 20 area. ADX has fallen for a fourth consecutive week - the trend is losing conviction - while money flow stays negative even as buyers return on volume. The short, which a week ago was running above 4% in profit, is now nearly back to breakeven.
This week's summary
Eni's rebound comes from a clean double bottom in the 20 area: the week closes up 6.1%, with buyers running 84% of daily volume and money flow back in positive territory. Eni stock enters a new buy signal, third by strength among the week's five European longs, right on the eve of its July 29 earnings report.
IQS Phase
57
ordinary
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#3 / 5
New eu-uk stocks
Trade P&L %
+0.00%
from signal to today
Rank position
ranks 3rd among the 5 fresh Longs for European-UK stocks in our ranking, with a signal strength of 47 out of 100.
Sector context
SectorItalian
Benchmark ETFEXH1
Sector regimein positive regime
Performanceweekly +4.02% · monthly +9.24%
ENI belongs to the italian sector (reference ETF EXH1). The sector is classified in positive regime according to our weekly reading.
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