Sell signal, week 13: the decline carries on
Italgas slips 1.1% and closes below its 100-week average as the ADX keeps rising
Our view last week
Last week's bounce went nowhere: Italgas stock slips 1.2% and in the weekly bar 91% of volume is back on the sell side, after 85% on the buy side a week earlier. Money flow is weakening, the price action stays in full distribution and the ADX has been rising for 9 weeks. The technical analysis points to a decline picking up its stride again, with the short 15.8% in profit.
This week's summary
Italgas has lost its 100-week moving average: the stock slipped 1.1%, its 2nd straight weekly decline, and closed below the 8.3 area, a level that was still holding a week ago. Italgas stock stays in a decline that is picking its stride back up, as the technical analysis suggested last week: the ADX has been rising for 10 weeks and money flow has been negative just as long. For swing trading on the short side the gain widens to 16.8%; earnings are due on October 29.
IQS Phase
57
ordinary
Signal Strength
40
downtrend making lower lows, pace holding
Sizing
REDUCED
Ranking
#33 / 89
EU-UK stocks
Trade P&L %
+16.79%
from signal to date, no stop loss
Italgas (IG) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 33rd among the 89 sell signals for European-UK stocks in our ranking, with a signal strength of 40 out of 100.
Sector context
SectorItalian
Benchmark ETFEXH9
Sector regimein positive regime
Performanceweekly +0.55% · monthly +1.10%
IG belongs to the italian sector (reference ETF EXH9). The sector is classified in positive regime according to our weekly reading.
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