European-UK stocks · Open buy
E.On drops 4.5%: the weekly MACD turns bearish
European-UK stocks · Open buy
Our view last week
E.On closes its second week up 1.9%, confirming the double bottom in the 17 area that triggered the signal. Under the surface the picture is improving: buyers control nearly 80% of daily turnover and the weekly MACD has turned bullish, with the histogram climbing. The price now sits between resistance in the 19.7 area and support in the 19.5 area, inside a European sector backdrop that has turned positive.
This week's summary
E.On drops 4.5% in the week just closed, reversing last week's picture: the weekly MACD, which had just turned bullish, flips back into a bearish cross, and sellers dominate the final session in extreme fashion. The buyer dominance seen a week ago has collapsed. The trade is still marginally positive, with the stop fixed at the weekly signal level.
IQS Phase
42
ordinary
Signal Strength
44
medium · weak
Sizing
REDUCED
Ranking
#39 / 61
EU-UK stocks in progress
Trade P&L %
-1.29%
from signal to date, no stop loss
Rank position
ranks 39th among the 61 Longs already running for European-UK stocks in our ranking, with a signal strength of 44 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXH9
Sector regimeweak phase
Performanceweekly -3.06% · monthly -0.68%
EOAN belongs to the european sector (reference ETF EXH9). The sector is classified weak phase according to our weekly reading.
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