Sell signal in management, week six
EXV6, the basic resources ETF, bounces 1.7% as ADX keeps fading
Sell signal in management, week six
Our view last week
Our EXV6 technical analysis this week shows a 3.1% rebound, led by buyers (89% of volume) and completed by a clean double bottom in the 75 area. The Sell signal on this European basic resources ETF stays in the balance: momentum keeps worsening and the ADX keeps falling, more a decline losing conviction than a real reversal. Price remains boxed between the 78.9 and 79.4 areas.
This week's summary
Our technical analysis of EXV6, the European basic resources ETF, shows a 1.7% bounce off the daily EMA20: a touch in the 77 area followed by a 4% rebound. Compared with last week the picture doesn't change direction: the Sell signal keeps losing conviction, with the ADX down to 25 and volumes contracting. The short, opened five weeks ago, is now running a small loss, at 1.3%.
IQS Phase
72
in tension
Signal Strength
2
decline losing steam
Sizing
MINIMUM
Ranking
#42 / 47
EU-UK stocks
Trade P&L %
-1.32%
from signal to date, no stop loss
Rank position
ranks 42nd among the 47 sell signals for European-UK stocks in our ranking, with a signal strength of 2 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETF—
Sector regime
Performanceweekly coming soon · monthly coming soon
EXV6 belongs to the etf settoriale sector (reference ETF ).
restricted Platinum content