Glencore climbs again as the sell signal stays unconfirmed
Glencore stock rises 1.1% as the sell signal remains unconfirmed
Glencore climbs again as the sell signal stays unconfirmed
Our view last week
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.
This week's summary
Glencore's shares keep bouncing: after last week's 4% rebound, the stock adds another 1.1%, driven by a 6% rebound off its own 20-day moving average, touched in the 512 area. The sell signal, now in its 6th week and never confirmed by the market, stays boxed between a support and a resistance sitting very close together, in the 536-544 area. With earnings on the calendar for August 5, the technical picture calls for caution on volatility.
IQS Phase
55
ordinary
Signal Strength
2
decline fading out
Sizing
MINIMUM
Ranking
#43 / 47
EU-UK stocks
Trade P&L %
-5.50%
from signal to date, no stop loss
Rank position
ranks 43rd among the 47 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 +1.71% · monthly +1.88%
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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