The trade holds, but the trend is losing steam
Societe Generale +0.4%: a double bottom in the 70 area as ADX loses conviction
The trade holds, but the trend is losing steam
Our view last week
Societe Generale closed the week down 4%, with sellers back in charge (60% of volume) after weeks of the opposite tilt. The daily chart, though, formed a clean double bottom in the 69 area, with a 5% intermediate rebound. Money flow stays positive and the MACD holds above its signal line, but the pace is cooling: versus last week, when the residual capital was running at +3.59%, the trade has slipped to a mild -0.54%.
This week's summary
On the daily chart, Societe Generale shares have just carved out a clean double bottom in the 70 area, with a 15% intermediate rebound: the week closed almost flat, +0.4%, after the previous week's -4%. The weekly technical analysis shows a picture losing its edge — ADX falling, the MACD histogram thinning out — while money flow stays positive. The trade, under management for 13 weeks, sits practically at breakeven.
IQS Phase
57
ordinary
Signal Strength
37
medium · weak
Sizing
REDUCED
Ranking
#50 / 61
EU-UK stocks in progress
Trade P&L %
-0.15%
from signal to today
restricted Platinum content