European Auto ETF: rebound rejected, sell reinforced
European Auto ETF sheds 2.1% as the rebound fades and the decline bites back
European Auto ETF: rebound rejected, sell reinforced
Our view last week
The iShares STOXX Europe 600 Automobiles & Parts ETF is in week 2 of a sell signal, and this week it rebounded 3.5%. Signal strength drops to 21 out of 100: the decline is losing steam, not accelerating. The picture still sits in a trading range our model flags as not recommended, with the setup quality indicator at 82 out of 100 and the fund ranking 4th among the 54 European sell signals.
This week's summary
The European Auto & Parts sector shed 2.1% this week: the 7% bounce off a double bottom in the 4.5 area has already faded, with sellers back in charge on the last bar. The decline is making lower lows again — signal strength climbs to 44 out of 100, up from 21 out of 100 last week — while this week's technical analysis keeps the setup in a trading-not-recommended range.
IQS Phase
78
in tension
Signal Strength
44
decline starting to make lower lows
Sizing
REDUCED
Ranking
#11 / 54
EU-UK stocks sell signals
Trade P&L %
-1.36%
from signal to today
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