Sell signal, week 8
Enovix Sheds 23% and Slides Onto Its 7-Day Support
Our view last week
After last week's 14.9% bounce, Enovix stock is giving it back: down 6.6% with 89% of volume on the sell side, a sign sellers have retaken command. The weekly RSI slips to 38, money flow stays negative, and the Sell signal, under management for six weeks, holds its ground. The short is up 18%.
This week's summary
Enovix stock plunges 23% in a week, the sharpest drop since the sell signal opened: 71% of volume landed on the sell side, and price slid down to the lower edge of the daily Bollinger Band, in the 3.09 area, just above the 7-day low. Money flow has stayed negative for 10 weeks, and the weekly RSI drops to 33.5, edging toward oversold. The short position on the stock is now up 36.9%.
IQS Phase
78
in tension
Signal Strength
62
decline starting to make lower lows
Sizing
STANDARD
Ranking
#12 / 93
US stocks
Trade P&L %
+36.94%
from signal to date, no stop loss
Rank position
ranks 12th among the 93 sell signals for US stocks in our ranking, with a signal strength of 62 out of 100.
Sector context
SectorIndustrial
Benchmark ETFXLI
Sector regimeweak phase
Performanceweekly -3.36% · monthly +0.78%
ENVX belongs to the industrial sector (reference ETF XLI). The sector is classified weak phase according to our weekly reading.
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