Ongoing decline · week 8 · US stocks
Fortis slips 0.4%: a fresh 30-week low that the weekly close did not confirm
Our view last week
After last week's pause, sellers took back 74% of the volume and Fortis stock closed 1.9% lower, its 3rd losing week in a row. The technical analysis shows a decline finding its stride again: money flow has dropped to a 4-week low, the weekly MACD is sinking further below zero and price is trading within 1% of its recent lows. The short is 6.3% in profit, with earnings due on October 23 on the horizon.
This week's summary
A fresh 30-week low that the weekly close did not confirm: Fortis stock slipped 0.4%, its 4th straight weekly loss, and finished in the upper half of the week's range after closing in the lower part a week earlier. The technical analysis says the decline still holds: MACD below its Signal line for 10 weeks, money flow at its lowest reading in 4. The price action, though, is slowing. The short is 6.7% in profit, with earnings due on October 23 for this name among US stocks.
IQS Phase
76
in tension
Signal Strength
14
decline losing steam
Sizing
MINIMUM
Ranking
#129 / 175
US stocks
Trade P&L %
+6.72%
from signal to date, no stop loss
Fortis (FTS) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 129th among the 175 sell signals for US stocks in our ranking, with a signal strength of 14 out of 100.
Sector context
SectorUtilities
Benchmark ETFXLU
Sector regimeweak phase
Performanceweekly +0.81% · monthly -6.66%
FTS belongs to the utilities sector (reference ETF XLU). The sector is classified weak phase according to our weekly reading.
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