Nexi, week 6: the push is fading
Nexi stock slips 0.8% as the daily chart builds higher lows toward the 4.1 area
Our view last week
Last week the picture already pointed to fading momentum, and the days since confirmed it: Nexi stock closes 0.4% lower, while contracting volumes and a mixed rejection candle tell of a rally struggling to find new fuel. On the daily chart, though, the stock bounced 2% off its 20-day moving average. The buy signal still holds, now in its fifth week and up 7.51% from entry, with strength still high to lend confidence, but with more caution than before.
This week's summary
Nexi closes the week 0.8% lower, while on the daily chart the stock keeps building a sequence of higher lows, from the 4 area toward the 4.1 area. The weekly technical analysis calls for more caution, though: contracting volumes and mixed rejection candles point to a rally struggling to find fresh fuel. The Nexi stock buy signal still holds, now in its 6th week and up 6.69%, with strength still high but the push fading.
IQS Phase
45
ordinary
Signal Strength
83
high · wide move
Sizing
FULL
Ranking
#11 / 70
EU-UK stocks in progress
Trade P&L %
+6.69%
from signal to date, no stop loss
Rank position
ranks 11th among the 70 Longs already running for European-UK stocks in our ranking, with a signal strength of 83 out of 100.
Sector context
SectorItalian
Benchmark ETFEXV1
Sector regimein positive regime
Performanceweekly -2.04% · monthly +1.88%
NEXI belongs to the italian sector (reference ETF EXV1). The sector is classified in positive regime according to our weekly reading.
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