EXHG bounces 4.1%: the sell signal is put to the test
EXHG bounces 4.1%, putting its 6th-week sell signal to the test
EXHG bounces 4.1%: the sell signal is put to the test
Our view last week
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.
This week's summary
EXHG, the European auto and parts sector ETF, saw a sharp turn this week: after days of heavy selling the price bounced 4.1%, with 56% of volume back on the buy side. Weekly RSI climbs to 47, MACD turns bullish, but money flow stays negative and the distribution phase hasn't closed. The sell signal is now in its 6th week, still stuck in a tight range, with the technical picture still split.
IQS Phase
63
ordinary
Signal Strength
20
decline fading out
Sizing
MINIMUM
Ranking
#27 / 47
EU-UK stocks
Trade P&L %
-4.39%
from signal to date, no stop loss
Rank position
ranks 27th among the 47 sell signals for European-UK stocks in our ranking, with a signal strength of 20 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETFEXHG
Sector regimein strong phase
Performanceweekly +4.15% · monthly +3.15%
EXHG belongs to the etf settoriale sector (reference ETF EXHG). The sector is classified in strong phase according to our weekly reading.
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