Oi: rebound rejected, the decline bites again
Oi drops 17.5% after its rebound is rejected at the 7-day high
Oi: rebound rejected, the decline bites again
Our view last week
Week 18 of the sell signal on Oi, and the week just closed gave up 4.8%, the mildest drop of the last four readings. The daily chart, though, shows a double bottom in the 0.82 area, with an intermediate rebound of 10%. The trade is up 40.3% since opening.
This week's summary
Oi's stock tried to attack its 7-day high, in the 0.80 area, and was firmly rejected: the week closed down 17.5%, the sharpest drop of the last four readings. The Sell signal, under management for 19 weeks, still leaves the short more than 50% in profit.
IQS Phase
76
in tension
Signal Strength
66
decline starting to make lower lows
Sizing
STANDARD
Ranking
#2 / 21
Rest of the World stocks
Trade P&L %
+50.75%
from signal to today
restricted Platinum content