Sell signal in observation, rebound unconfirmed
European Telecom ETF up 1.1% this week, but daily highs keep falling
Sell signal in observation, rebound unconfirmed
Our view last week
This European telecoms ETF is in week 2 of a sell signal, and the week just closed down 3.3%: the decline is making lower lows, with signal strength climbing to 71 out of 100. The setup quality indicator, at 69 out of 100, stays in tension toward maturity, and the ETF ranks 17th among the 54 European sell signals.
This week's summary
Weekly technical analysis. The European telecoms sector ETF closes the week up 1.1%, yet on the daily chart the highs keep sliding — three tops in a row, each lower than the last, from the 29 area down to 28. The sell signal is in its 3rd week: signal strength drops to 41 out of 100, the mark of an isolated weekly drop, still unconfirmed. Opening a new position here stays high-risk under our model.
IQS Phase
80
in tension
Signal Strength
41
isolated weekly drop
Sizing
REDUCED
Ranking
#12 / 54
EU-UK stocks sell signals
Trade P&L %
+2.30%
from signal to today
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