Fresh sell signal on Europe's tech ETF
EXV3 sheds 3.4%: Europe's tech rally breaks with a fresh sell signal
Fresh sell signal on Europe's tech ETF
Our view last week
This week the European technology ETF iShares STOXX Europe 600 Technology gave back 2.6%: the rally has lost momentum for weeks, with money flow cooling and momentum down from 22 to 11. The weekly structure, bullish a week ago, has slipped into neutral, with volume contracting. On the daily chart a clean double bottom in the 95 area holds, with a 10% intermediate rebound. The trade stays up 12.13% in its 12th week.
This week's summary
The rally on EXV3, the European technology sector ETF, had already cooled off last week: now comes the real change of sign. This week the price gave back 3.4%, with sellers dominating the last bar to an extreme despite a clean double bottom in the 93 area. That triggers a fresh sell signal, 5th of 53 in our European technical analysis, but the risk band urges caution: better to wait before opening a short.
IQS Phase
40
ordinary
Signal Strength
76
downtrend making lower lows, pace holding
Sizing
STANDARD
Ranking
#5 / 53
New eu-uk stocks
Trade P&L %
+0.00%
from signal to today
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