RWE: the decline stalls as sellers ease off
RWE nearly flat (-0.1%): the Sell signal stalls as selling pressure eases
RWE: the decline stalls as sellers ease off
Our view last week
RWE's bounce lasted just one week. After the prior week's 7.0% recovery, RWE's weekly technical analysis flags a sharp reversal: this week the stock drops 3.0% on 87% sell-side volume, with sellers back in extreme control. The Sell signal is in its 9th week, and price stays boxed between the wall in the 56 area, already rejected several times, and the double-bottom support in the 54 area.
This week's summary
After last week's 3% drop, RWE's Sell signal has stalled: this week the stock closes almost flat, with selling pressure easing from 87% to 57% of volume. The ADX has fallen for a third straight week, a sign the trend is losing conviction, while money flow stays negative and sellers still hold the last bar. Price remains boxed between the wall in the 56.3 area and the floor in the 55.9 area.
IQS Phase
63
ordinary
Signal Strength
13
decline losing steam
Sizing
MINIMUM
Ranking
#30 / 53
EU-UK stocks
Trade P&L %
-1.45%
from signal to today
restricted Platinum content