Figure Technology, week 7 of its Sell signal
Figure Technology drops 8.9% as its Sell signal bites again
Figure Technology, week 7 of its Sell signal
Our view last week
Figure Technology's rally has stalled: after last week's 26.2% surge, the stock gave back 6.2%, with almost 70% of the volume on the sell side. Price is now boxed between the resistance of its 50-day average and the support of its 20-day average. The short, open for six weeks, still sits at an 11.6% loss, but downside momentum is losing steam.
This week's summary
Figure Technology's Sell signal has reached its seventh week, and this one brought the hardest blow yet: -8.9%, with 88% of volume on the sell side. After the 26.2% rally two weeks ago, the stock gave back more ground, money flow slipped deeper negative and the ADX is losing conviction. The short, at an 11.6% loss a week ago, has narrowed to a modest -1.68%.
IQS Phase
68
in tension
Signal Strength
42
decline starting to make lower lows
Sizing
REDUCED
Ranking
#72 / 140
US stocks
Trade P&L %
-1.68%
from signal to today
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