Sell signal, week 9: sellers seize back control
National Grid slips 1.4% as sellers seize back control of volume
Sell signal, week 9: sellers seize back control
Our view last week
National Grid is in week 8 of a sell signal, and the week just closed barely moved, -0.1%, after a daily double bottom in the 1180 area with an intermediate 4% rebound. The underlying technical picture stays bearish, but with signs of fatigue: buying flow holds up, momentum is recovering ground from mid-June lows.
This week's summary
National Grid shares had held up last week, with buying flow still intact; this week the picture flipped — just 17% of trading was on the buy side, 83% on the sell side — and the stock slipped 1.4%, back near the 1180 double bottom. The Sell signal, now in its 9th week, remains 3.2% underwater: weekly technical analysis shows a trend losing conviction, with the ADX declining for four straight weeks.
IQS Phase
64
ordinary
Signal Strength
20
decline starting to make lower lows
Sizing
MINIMUM
Ranking
#27 / 54
EU-UK stocks
Trade P&L %
-3.20%
from signal to today
restricted Platinum content