Societe Generale gains 3.5%, twice turned back at highs
Societe Generale climbs 3.5% and tests its recent highs again
Societe Generale gains 3.5%, twice turned back at highs
Our view last week
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.
This week's summary
Societe Generale shares jump 3.5% this week: the weekly RSI climbs to 61, buyers step back in front (74% of volume on the buy side, up from 43% a week earlier) and money flow strengthens sharply. Twice, though, the push to clear the recent highs around the 78-79 area gets turned back. Our weekly technical analysis reads a stock holding its direction, with the double bottom in the 72 area still acting as the floor.
IQS Phase
60
ordinary
Signal Strength
37
medium · weak
Sizing
REDUCED
Ranking
#51 / 59
EU-UK stocks in progress
Trade P&L %
+3.36%
from signal to today
Rank position
ranks 51st among the 59 Longs already running for European-UK stocks in our ranking, with a signal strength of 37 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXV1
Sector regimein positive regime
Performanceweekly +2.20% · monthly +2.61%
GLE belongs to the european sector (reference ETF EXV1). The sector is classified in positive regime according to our weekly reading.
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