European bank ETF, week 14: gain locked in
iShares STOXX Europe 600 Banks ETF slips 2.8% as sellers retake control
European bank ETF, week 14: gain locked in
Our view last week
Europe's iShares STOXX Europe 600 Banks basket revisits its daily EMA20, in the 40 area, and bounces 3% off it, yet the week closes almost flat, -0.2%: contracting volume and a weak last candle confirm the fatigue flagged a week ago. Price stays boxed near its all-time highs, in a very tight band in the 41.4 area. The trade has been running for 13 weeks, up 14.77%.
This week's summary
Weekly technical analysis on the iShares STOXX Europe 600 Banks ETF, the basket tracking Europe's banking sector: the week closes down 2.8%, with sellers back in control of 70% of trading volume and the RSI slipping from 69.5 to 63.5. MACD is losing steam and the price action shows the first signs of fatigue. The residual capital of the trade, running for 14 weeks, still sits up 11.54%.
IQS Phase
64
ordinary
Signal Strength
56
medium
Sizing
STANDARD
Ranking
#22 / 61
EU-UK stocks in progress
Trade P&L %
+11.54%
from signal to today
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