Legrand: the decline slows but holds
Legrand slips 0.8%: the double bottom holds and the decline loses its edge
Legrand: the decline slows but holds
Our view last week
Legrand's stock drops 3.8% this week and retests its double bottom in the 133 area, rejected firmly: the price closes boxed between the 50-week average just overhead and the Bollinger Band floor just below. The Sell signal has been under management for 7 weeks, with the short above 5.9% profit; the ADX easing off, though, says the pace is loosening.
This week's summary
Legrand's Sell signal has been under management for 7 weeks, with the short above 6.7% profit. Price retested the double bottom in the 133 area with a 4% intermediate rebound, rejected firmly by the 50-week average just overhead. In this weekly technical analysis of Legrand stock the decline holds, but money flow keeps sliding further negative and ADX is easing off, saying the pace is loosening.
IQS Phase
75
in tension
Signal Strength
19
decline losing steam
Sizing
MINIMUM
Ranking
#27 / 56
EU-UK stocks
Trade P&L %
+6.74%
from signal to today
Rank position
ranks 27th among the 56 sell signals for European-UK stocks in our ranking, with a signal strength of 19 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXH4
Sector regimein positive regime
Performanceweekly +1.57% · monthly +0.29%
LR belongs to the european sector (reference ETF EXH4). The sector is classified in positive regime according to our weekly reading.
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