RELX bounces for a second straight week
RELX gains 3.3%: the decline slows as money flow edges back near breakeven
RELX bounces for a second straight week
Our view last week
After three weeks of decline, RELX shares finally paused: this week's technical analysis shows a 3.6% rebound off a clean double bottom in the 2280 area, with a 6% intermediate bounce. Under the surface, though, the picture stays two-sided — money flow keeps worsening and volume stays split — and the short, in its ninth week of management, sits just about at breakeven.
This week's summary
RELX's rebound runs into a second straight week: +3.3% this week, after +3.6% the week before, with money flow back close to breakeven and momentum recovering sharply. The short, in its tenth week of management, sits near breakeven, off by a small 3%. Price is squeezed between the daily Kumo floor, in the 2510 area, and the 50-day average, in the 2457 area: those two levels will call the next move.
IQS Phase
64
ordinary
Signal Strength
2
decline fading out
Sizing
MINIMUM
Ranking
#45 / 53
EU-UK stocks
Trade P&L %
-3.01%
from signal to today
restricted Platinum content