EXHG, Europe Auto ETF: fifth week of the sell signal
EXHG falls 2.2% as the European auto sell signal stays open
EXHG, Europe Auto ETF: fifth week of the sell signal
Our view last week
EXHG, the European Auto & Parts sector ETF, closed the week up 1.1%, but under the surface buyers are missing: almost all of last session's volume went to sellers and money flow stays negative. The sell signal, now in its fourth week, still hasn't been confirmed — signal strength drops to 29 out of 100, a decline that has lost its push. This week's technical analysis keeps EXHG in a trading-not-recommended range.
This week's summary
Almost eight in ten of this week's volume went to sellers on EXHG, the European Auto & Parts sector ETF, which fell 2.2% and saw sellers back in control after last week's bounce. The technical picture stays soft, with money flow still negative and price boxed between the double bottom in the 4.5 area and resistance just above the 4.6 area. EXHG technical analysis flags caution: the sell signal, now in its fifth week, still hasn't found full confirmation.
IQS Phase
68
in tension
Signal Strength
45
decline starting to make lower lows
Sizing
REDUCED
Ranking
#13 / 56
EU-UK stocks
Trade P&L %
-0.23%
from signal to today
Rank position
ranks 13th among the 56 sell signals for European-UK stocks in our ranking, with a signal strength of 45 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETFEXHG
Sector regimeweak phase
Performanceweekly -2.23% · monthly -0.78%
EXHG belongs to the etf settoriale sector (reference ETF EXHG). The sector is classified weak phase according to our weekly reading.
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