Lojas Renner: -8.2% and a double bottom in the 13 area
Lojas Renner drops 8.2%: a double bottom in the 13 area as the buy signal fades
Lojas Renner: -8.2% and a double bottom in the 13 area
Our view last week
Lojas Renner shares are stuck right where we left them last week: the price is compressed into a very tight band, between the daily Kumo ceiling in the 14.63 area and the 50-day moving average in the 14.60 area. The week slipped 1.2% and the trade has widened to a 4.94% loss from entry; the buy signal is fading, in a picture of weak conviction and elevated volatility to be managed with discipline.
This week's summary
Lojas Renner shares break out of their compression with an 8.2% drop, the sharpest since the trade opened. On the daily chart, though, the price carves out a double bottom in the 13 area, with a 12% rebound off the lows - a first sign of stabilization, even if sellers still ruled the last candle. The buy signal, fifth week, keeps fading and the trade slips to a 12.7% loss. In our weekly technical analysis, Lojas Renner falls to 7th place among the 10 open buys on Rest of the World stocks.
Open BUY
·5th week from start
·Rest of the World stocks
·T1
·📅 Earnings · Aug 6
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IQS Phase
33
ordinary
Signal Strength
55
medium
Sizing
STANDARD
Ranking
#7 / 10
Rest of the World stocks in progress
Trade P&L %
-12.74%
from signal to today
restricted Platinum content