INWIT: week 7 of the sell signal
Infrastrutture Wireless Italiane slips 1.9% as the decline stays boxed in its range
INWIT: week 7 of the sell signal
Our view last week
After last week's 4.5% bounce, sellers came back on Infrastrutture Wireless Italiane: the week gave up 1.7% with almost 80% of trading on the sell side, and the technical picture points to a deeper distribution phase. The sell signal is now in its 6th week, with the short a modest +4% in the money; the price stays boxed into a tight band, between the 6.42 area and the 6.48 area, unable to break either way.
This week's summary
This week Infrastrutture Wireless Italiane stock gave up 1.9%, with sellers back in control at 66% of the trading. The sell signal, open for seven weeks, still sits 6.1% in profit. Under the surface the picture is more mixed: money flow stays negative but lighter than three weeks ago, while price is boxed again between the 6.12 area and the 6.34 area, without a clear direction.
IQS Phase
69
in tension
Signal Strength
35
decline starting to make lower lows
Sizing
REDUCED
Ranking
#18 / 53
EU-UK stocks
Trade P&L %
+6.10%
from signal to today
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