Mercedes-Benz: a bounce sellers aren't buying into
Mercedes-Benz bounces 3.5%, but money flow says the downtrend isn't backing off
Mercedes-Benz: a bounce sellers aren't buying into
Our view last week
Mercedes-Benz's rebound of 4.4% last week didn't last: this week's technical analysis shows the stock down 2.8%, with sellers back in control and money flow turned negative again. A double bottom is forming on the daily chart in the 43 area, but price stays boxed between two very close levels. This swing trading sell setup, now in its 25th week of management, has the short more than 24% in the money.
This week's summary
This week's technical analysis on Mercedes-Benz shows a 3.5% bounce, but the tape tells a different story underneath: money flow, already negative last week, has slipped further into the red, and the weekly ADX is climbing — a sign the downtrend is gaining conviction. Price stays boxed in a tight band, between resistance in the 45.8 area and support in the 45.4 area. The short on this sell signal, now in its 26th week of management, is running more than 21% in the money.
IQS Phase
79
in tension
Signal Strength
11
decline losing steam
Sizing
MINIMUM
Ranking
#32 / 53
EU-UK stocks
Trade P&L %
+21.94%
from signal to today
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