Prysmian: the decline continues
Prysmian slips 1.6% as the decline continues into its eighth week of management
Our view last week
Prysmian stock slips 3.1% this week, breaking off the bounce of the previous two weeks. Rejection bars stay mixed, the phase is still indecisive and sellers edge back in front, with distribution still underway. Underneath, though, the decline is losing its edge: the ADX has been falling for 11 weeks, a sign the bearish push is fading, while price stays boxed between the 124 and 126 areas. The sell signal is now in its 7th week, with the short up 8.18% since entry.
This week's summary
Prysmian stock slips 1.6% as the decline runs into its second straight week. Underneath, the picture gets murkier: buyers reclaim the majority of volume, breaking a two-week run of seller dominance, while money flow stays negative for a 7th week and worsens further. The ADX has been falling for 12 weeks, a sign the trend is losing conviction, and price stays boxed between the 117 area and the 123 area. The short is now up 9.63% since entry.
IQS Phase
64
ordinary
Signal Strength
47
downtrend making lower lows, pace holding
Sizing
REDUCED
Ranking
#10 / 51
EU-UK stocks
Trade P&L %
+9.63%
from signal to date, no stop loss
Rank position
ranks 10th among the 51 sell signals for European-UK stocks in our ranking, with a signal strength of 47 out of 100.
Sector context
SectorItalian
Benchmark ETFEXH4
Sector regimein positive regime
Performanceweekly +0.71% · monthly +4.40%
PRY belongs to the italian sector (reference ETF EXH4). The sector is classified in positive regime according to our weekly reading.
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