The week's most cautious fresh buy
E.ON slips 1.1% this week but rebounds 5% off a double bottom in the 17 area
The week's most cautious fresh buy
Our view last week
E.ON is in week 9 of a sell signal, and this week rebounded 6.4%, pushing price back to the Pivot Point: signal strength drops to 2 out of 100, reading a decline that has run out of road. The setup quality indicator, at 38 out of 100, stays in ordinary territory, and the stock ranks 52nd among the 54 European sell signals.
This week's summary
After nine weeks of a sell signal running out of road, E.ON stock reversed course this week: a new Buy signal opens, backed by a double bottom in the 17 area with a 5% intermediate rebound. The week still closed down 1.1%, and on the daily chart sellers stay dominant: it's the most cautious fresh buy among today's five European Longs, with conviction still weak.
IQS Phase
48
ordinary
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#5 / 5
New eu-uk stocks
Trade P&L %
+0.00%
from signal to today
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