Eni: fourth week of the buy signal, near its highs
Eni gains 1.9% and nears its highs, but the room to run is shrinking
Our view last week
Eni stock closes the third week of its buy signal up 1.8%, but the technical picture isn't fully convincing: volumes are contracting and buyer dominance is fading. The price is hugging its recent highs, with little room to run before the next resistance. Signal strength is high, 83 out of 100, and in our weekly technical analysis the stock ranks 6th among the 70 open European buy signals.
This week's summary
Eni stock closes the week up 1.9%, with three higher lows on the daily chart pushing the price toward the 24 area. The weekly picture stays bullish, but with three caution flags: contracting volumes and fading buyer dominance, just like seven days ago. The stock is now hugging its all-time highs, with little room to run before the next resistance. In our weekly technical analysis, Eni is in the fourth week of a buy signal, with signal strength at 83 out of 100.
IQS Phase
52
ordinary
Signal Strength
83
high · wide move
Sizing
FULL
Ranking
#6 / 70
EU-UK stocks in progress
Trade P&L %
+5.14%
from signal to date, no stop loss
Rank position
ranks 6th among the 70 Longs already running for European-UK stocks in our ranking, with a signal strength of 83 out of 100.
Sector context
SectorItalian
Benchmark ETFEXH1
Sector regimein positive regime
Performanceweekly +1.43% · monthly +3.56%
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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