IXUS bounces off the double bottom, pace slows
IXUS gains 0.6% off the double bottom as the trend loses steam
IXUS bounces off the double bottom, pace slows
Our view last week
IXUS is in week 12 of a buy signal: all 3 statistical references of the model have been hit and coverage is now complete. The stop now trails the weekly Inversion Point, in the 92.8 area, protecting the 3.71% gain built up since entry. The residual capital continues with this trailing stop as long as the trend holds.
This week's summary
Weekly technical analysis. IXUS is in week 13 of a buy signal, and the week closes with a clean bounce: after the 2.8% drop two weeks ago, the fund breaks out of a double bottom in the 93 area and closes up 0.6%, with buyers back in control (70% of volume). Underneath, though, the pace has been slowing for a month: the ADX has fallen for a fourth straight week and momentum has nearly flatlined. The trade is still in profit, but price is now boxed between two levels just above the 95 area.
IQS Phase
57
ordinary
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#72 / 129
US stocks in progress
Trade P&L %
+4.32%
from signal to today
restricted Platinum content