Sell signal in management: week 16
Fortis sheds 1% as the buyers' rebound loses steam
Sell signal in management: week 16
Our view last week
Week 15 of a sell signal on Fortis, and the week just closed down 0.4%, a milder move than the recent swings. Capital flow has turned back to buying and momentum has climbed back above zero: data worth watching in the coming readings.
This week's summary
On Fortis last week's rebound attempt has cooled off: buyers, who made up 88% of volume, are back in balance with sellers (49%) and the stock shed 1%. On the daily chart a double bottom in the 55 area produced a weak 3% bounce, and price stays boxed between support in the 57.3 area and resistance in the 58.1 area: an indecisive week for a Sell signal now in its 16th week of management, with the short in a small loss, at -3.1% since entry.
IQS Phase
60
ordinary
Signal Strength
5
decline fading out
Sizing
MINIMUM
Ranking
#82 / 137
US stocks
Trade P&L %
-3.13%
from signal to today
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