Sell signal, ninth week under management
Kodak sheds 6.9%, breaks its floor as 92% of volume turns to selling
Sell signal, ninth week under management
Our view last week
Last week Kodak's double bottom in the 9.1 area was still holding; this week that floor gave way, and the stock shed another 2.8%, on lighter sell volume (58% versus 90% two weeks ago). Underneath, though, money flow keeps sliding into deeper distribution, and the weekly RSI has dropped below 50. Price now swings between the floor in the 7.96 area and resistance in the 8.26 area.
This week's summary
Kodak's floor in the 7.96 area, still holding last week, gave way this week: the stock lost another 6.9%, with 92% of volume on the sell side, the highest share of the past month. Money flow stays in heavy distribution and the weekly RSI has slipped to 41.6. On the daily chart, though, a double bottom has formed in the 7.8 area with a 10% rebound: a first sign of stabilizing, still to be confirmed.
IQS Phase
79
in tension
Signal Strength
37
decline starting to make lower lows
Sizing
REDUCED
Ranking
#78 / 140
US stocks
Trade P&L %
+20.95%
from signal to today
restricted Platinum content