Munich Re: open buy signal, week 3
Munich Re +2.4%: the run of higher lows stretches to 6 as the stop moves to breakeven
Munich Re: open buy signal, week 3
Our view last week
Munich Re shares extend their run of higher lows on the daily chart — five in a row, from the 459 area to the 497 area — with money flow firmly on the buy side and two-thirds of daily volume from buyers. On the weekly chart the pace is more cautious, with a few distribution signs, but the trade is already up 5.4% and the confirmation week closes positive. In this technical analysis: signal strength 52 out of 100, medium conviction.
This week's summary
Munich Re shares extend their run of higher daily lows to 6, from the 472 area to the 504 area, with money flow firmly on the buy side. The buy signal, which fired 3 weeks ago and was already confirmed by a positive first week, holds: the stock adds another 2.4% this week, even as price is now boxed into a tight band between support and resistance. In this technical analysis: IQS at 56 out of 100, the trade up 7.93% since entry, the stop already moved to breakeven.
IQS Phase
56
ordinary
Signal Strength
56
medium
Sizing
STANDARD
Ranking
#23 / 61
EU-UK stocks in progress
Trade P&L %
+7.93%
from signal to today
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