Munich Re: week 8, signal losing steam
Munich Re stock slips 0.3% as the buy signal cools in its 8th week
Our view last week
On Munich Re stock a bullish engulfing pattern is taking shape on the daily chart: the session buys with conviction, 76% of volume on the buy side and cash flow back in positive territory. The week closes just above flat, +0.5%, but the trade keeps gaining ground, with profit up to 8.4% since entry in the 7th week of an active buy signal. The weekly picture stays bullish, with two warnings worth watching.
This week's summary
Munich Re stock closes an almost flat week (-0.3%), but daily buyers stay in control: 65.5% of volume and money flow back solidly positive. The weekly picture stays indecisive though, with the ADX fading for nine weeks straight and two technical warnings still open. This technical analysis of the buy signal, now in its 8th week, shows the trade up 8.1% since entry, with IQS at 57 and Signal Strength at 56 out of 100.
IQS Phase
57
ordinary
Signal Strength
56
medium
Sizing
STANDARD
Ranking
#38 / 70
EU-UK stocks in progress
Trade P&L %
+8.10%
from signal to date, no stop loss
Rank position
ranks 38th among the 70 Longs already running for European-UK stocks in our ranking, with a signal strength of 56 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXV1
Sector regimein positive regime
Performanceweekly -2.04% · monthly +1.88%
MUV2 belongs to the european sector (reference ETF EXV1). The sector is classified in positive regime according to our weekly reading.
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