Legrand: the decline slows but doesn't stop
Legrand stock drops 2.2% this week as the decline's momentum starts to fade
Legrand: the decline slows but doesn't stop
Our view last week
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.
This week's summary
Legrand's decline gives back another 2.2% this week, after last week's 4% bounce was firmly rejected by the 50-week average. Money flow stays negative, but ADX eases to 15.3: the trend is losing conviction even as price keeps slipping. In this weekly technical analysis of Legrand stock the short runs above 8.8% profit since entry, in the 9th week of the sell signal.
IQS Phase
78
in tension
Signal Strength
24
decline starting to make lower lows
Sizing
MINIMUM
Ranking
#23 / 47
EU-UK stocks
Trade P&L %
+8.75%
from signal to date, no stop loss
Rank position
ranks 23rd among the 47 sell signals for European-UK stocks in our ranking, with a signal strength of 24 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXH4
Sector regimein strong phase
Performanceweekly +2.11% · monthly +0.81%
LR belongs to the european sector (reference ETF EXH4). The sector is classified in strong phase according to our weekly reading.
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