Itaú Unibanco: double bottom holds, signal loses steam
Itaú Unibanco edges up 0.3% off its double bottom near 40, but the buy signal is losing steam
Itaú Unibanco: double bottom holds, signal loses steam
Our view last week
Itaú Unibanco slips back 5.3% to the edge of the double bottom in the 39 area, the same floor it had bounced 8% off just days earlier: after a prior week up 4.9%, the trade has almost broken even. Warning signs keep piling up — contracting volumes, buyers in retreat, distribution underway — but the buy signal, fired three weeks ago, still holds its confirmation. Itaú Unibanco shares remain a case to watch in this week's technical analysis, with the banking sector still in a strength phase.
This week's summary
Itaú Unibanco shares close the week almost flat, up 0.3%, after tracing a double bottom in the 40 area with an intermediate 4% rebound. The weekly picture stays bullish but under watch: volumes contracting, buyers in retreat, and a distribution phase underway weigh on the climb. The buy signal, in its 4th week, is showing the first signs of fatigue: in our technical analysis on Itaú Unibanco the stock ranks 9th among the 13 still-open Rest of the World Longs.
Open BUY
·4th week from start
·Rest of the World stocks
·T1
·📅 Earnings · Aug 4
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IQS Phase
50
ordinary
Signal Strength
55
medium
Sizing
STANDARD
Ranking
#9 / 13
Rest of the World stocks in progress
Trade P&L %
-0.33%
from signal to today
Rank position
ranks 9th among the 13 Longs already running for titoli resto del mondo in our ranking, with a signal strength of 55 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein positive regime
Performanceweekly +0.09% · monthly +4.82%
ITUB4 belongs to the financials sector (reference ETF XLF). The sector is classified in positive regime according to our weekly reading.
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