Open long, week 18
Mps drops 3.8% as sellers return, trend holds firm
Our view last week
Monte dei Paschi stock keeps climbing: +1.1% this week, with 96% of trading on the buy side and the ADX rising again, above 38 — the trend keeps gaining conviction. Price is still squeezed into a tight band between the 11.98 and 12.08 areas, though, and overall volume is contracting. The trade, under management for 17 weeks, is now running at +31.3% since entry.
This week's summary
After weeks of near-uninterrupted push, Mps slows down: the week closes at -3.8% as sellers take back the lead, with 84% of volume on the sell side. The bigger picture doesn't break, though: the ADX keeps climbing, now in its 13th straight week, and on the daily chart price keeps carving higher lows from the 11 area toward the 12 area. The trade, open for 18 weeks, is running at +26.3%.
IQS Phase
41
ordinary
Signal Strength
64
medium
Sizing
STANDARD
Ranking
#19 / 70
EU-UK stocks in progress
Trade P&L %
+26.32%
from signal to date, no stop loss
Rank position
ranks 19th among the 70 Longs already running for European-UK stocks in our ranking, with a signal strength of 64 out of 100.
Sector context
SectorItalian
Benchmark ETFEXV1
Sector regimein positive regime
Performanceweekly -2.04% · monthly +1.88%
BMPS belongs to the italian sector (reference ETF EXV1). The sector is classified in positive regime according to our weekly reading.
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