Glencore: the decline slows, a 4% bounce
Glencore bounces 4% as its sell signal loses steam
Glencore: the decline slows, a 4% bounce
Our view last week
Glencore's sell signal didn't survive its own test: the three observation weeks closed sideways, and the market never confirmed it. This week the stock gained 1.2%, boxed between a resistance and a support sitting right next to each other. Signal strength drops to 2 out of 100 — a decline with no fresh push — and Glencore slips to 44th among the 53 European sell signals.
This week's summary
This week Glencore's shares bounce 4%, with buyers back firmly in control — 78% of the week's volume on the buy side — and the weekly RSI climbing back above the 50 mark. The sell signal, active for 4 weeks, had closed last week sideways; now the ADX keeps fading and price stays boxed between a support and a resistance sitting close together, in the 536-540 area.
IQS Phase
59
ordinary
Signal Strength
2
decline losing steam
Sizing
MINIMUM
Ranking
#45 / 56
EU-UK stocks
Trade P&L %
-4.39%
from signal to today
Rank position
ranks 45th among the 56 sell signals for European-UK stocks in our ranking, with a signal strength of 2 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXV6
Sector regimein positive regime
Performanceweekly +3.13% · monthly -0.21%
GLEN belongs to the european sector (reference ETF EXV6). The sector is classified in positive regime according to our weekly reading.
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