IEMG rebounds 1.9%, MACD turns bearish
IEMG rebounds 1.9% off the double bottom, but the MACD turns bearish
IEMG rebounds 1.9%, MACD turns bearish
Our view last week
IEMG is in week 11 of a buy signal, with the model's coverage already completed: all 3 statistical references have been hit and the stop now trails the Inversion Point in the 79.5 area, protecting the gain. The signal strength has slipped to 47 out of 100, in an ordinary technical picture, and the price is squeezed between resistance in the 80 area and support in the 78.8 area.
This week's summary
Weekly technical analysis. This week IEMG rebounds 1.9% and buyers step back in with conviction - 74% of volume on the buy side - after the double bottom in the 78 area two weeks ago. The price has cleared last week's resistance in the 80 area and is now consolidating in a tighter band, between 81.1 and 81.5. Beneath the surface, though, the weekly MACD has just crossed bearish and momentum has been fading for a month.
IQS Phase
52
ordinary
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#78 / 129
US stocks in progress
Trade P&L %
+4.12%
from signal to today
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