Itaú Unibanco bounces off the EMA20, MACD turns bullish
Itaú Unibanco climbs 1.9%, bouncing off its 20-day moving average
Itaú Unibanco bounces off the EMA20, MACD turns bullish
Our view last week
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.
This week's summary
Itaú Unibanco shares bounce 3% off the daily 20-day moving average and close the week up 1.9%, with the weekly MACD back in a bullish cross: our technical analysis logs the buy signal in its 5th week. The picture still calls for caution though: volumes are contracting and buyers are losing conviction, and earnings land this very week, expected August 4 — added risk on an entry that's still young.
Open BUY
·5th week from start
·Rest of the World stocks
·T1
·📅 Earnings · Aug 4
★ See Gold version →
IQS Phase
60
ordinary
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#10 / 12
Rest of the World stocks in progress
Trade P&L %
+1.54%
from signal to date, no stop loss
Rank position
ranks 10th among the 12 Longs already running for titoli resto del mondo in our ranking, with a signal strength of 47 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein strong phase
Performanceweekly +1.12% · monthly +3.94%
ITUB4 belongs to the financials sector (reference ETF XLF). The sector is classified in strong phase according to our weekly reading.
restricted Platinum content