Week 19 of the short: the decline loses steam
Even Construtora up 0.9%, rebounds 14% off a double bottom as money flow turns
Week 19 of the short: the decline loses steam
Our view last week
Even Construtora is in week 18 of a sell signal, and the week closed down 1.6% with sell volume at 56%. The recent technical picture, though, tells a story of a decline losing steam rather than accelerating: the MACD histogram has shrunk and momentum has drifted back toward zero, while a double bottom has formed in the 5.3 area on the daily chart.
This week's summary
A clean double bottom in the 5.2 area gives the stock a lift: in Even Construtora's weekly technical picture, the sell signal, now in its 19th week, rebounds 14%, with this week's volume swinging entirely to the buy side and money flow turning positive after weeks in the red. The short remains solidly in profit, over 23%, but signs the decline is running out of steam keep piling up.
IQS Phase
55
ordinary
Signal Strength
4
decline losing steam
Sizing
MINIMUM
Ranking
#12 / 21
Rest of the World stocks
Trade P&L %
+23.50%
from signal to today
restricted Platinum content