Buy signal confirmed, key averages reclaimed
Localiza gains 8.2% as the weekly MACD crosses above its Signal line after 29 weeks
Our view last week
Localiza Rent A Car stock rose 5.9% and turned the picture around: a week ago a short was running, now a new buy signal fires. For a second week buyers lead on volume and the MACD histogram has been climbing for 5 weeks, while money flow stays negative and the price action still points to distribution. In weekly technical analysis the stock is on watch: it still needs a close above the high of the last 7 sessions.
This week's summary
In a week worth +8.2%, Localiza reclaimed its 50-week and 200-day averages, and the weekly MACD crossed back above its Signal line after 29 weeks below it. A week ago money flow was still negative: it is now positive for the first time in 11 weeks. On weekly technical analysis, Localiza stock confirms the buy signal that fired last week, among the weekly buy signals still gaining ground. One hurdle sits close, the 100-week average in the 42 area. A swing trading case with elevated volatility.
IQS Phase
48
ordinary
Signal Strength
79
high · wide & volatile
Sizing
FULL
Ranking
#3 / 20
Rest of the World stocks in progress
Trade P&L %
+8.16%
from signal to date, no stop loss
Localiza Rent A Car (RENT3) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 3rd among the 20 Longs already running for titoli resto del mondo in our ranking, with a signal strength of 79 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimeweak phase
Performanceweekly -2.46% · monthly -7.23%
RENT3 belongs to the financials sector (reference ETF XLF). The sector is classified weak phase according to our weekly reading.
restricted Platinum content