Open BUY · week 10 · Borsa Italiana (Milan)
Eni adds 0.4% and prints a new 90-day high that the weekly close fails to confirm
Our view last week
Buyers took back control of the weekly bar and Eni stock gained 0.6%, a week after sellers were still ahead. On the daily chart the price touched its 20-day moving average and bounced 4% off it, and the weekly price action is clean again. Among our weekly buy signals on Italian stocks, this swing trading setup ranks 4th of the 41 open European buys, though a falling ADX says the trend is losing some conviction.
This week's summary
Eni printed a new 90-day high this week, but the weekly close did not confirm it: the price added 0.4% and stayed below the old ceiling. It is the 2nd straight weekly gain after the bounce off the 20-day moving average, and Eni stock has had positive money flow for 10 weeks. The price action is still bullish, yet the ADX keeps falling, for 6 weeks now, and the trend is losing conviction. Among our weekly buy signals on European stocks, this swing trading setup ranks 3rd of 29.
IQS Phase
61
ordinary
Signal Strength
79
high · wide move
Sizing
FULL
Ranking
#3 / 29
EU-UK stocks in progress
Trade P&L %
+5.36%
from signal to date, no stop loss
Rank position
ranks 3rd among the 29 Longs already running for European-UK stocks in our ranking, with a signal strength of 79 out of 100.
Sector context
SectorItalian
Benchmark ETFEXH1
Sector regimein positive regime
Performanceweekly -1.00% · monthly +1.11%
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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