RWE's decline loses steam
RWE climbs 5% as the sell signal loses momentum
RWE's decline loses steam
Our view last week
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.
This week's summary
RWE rebounds 5% in a week, climbing off the double bottom carved in the 54 area with an intermediate 4% bounce. Buyers take back the lead, holding 76% of volume, and money flow improves while still staying negative. The ADX falls for yet another week: the trend keeps losing conviction. The sell signal, open for 10 weeks, keeps giving ground while price works between the 59.2 area and the 58.7 area.
IQS Phase
43
ordinary
Signal Strength
2
decline nearly over
Sizing
MINIMUM
Ranking
#49 / 56
EU-UK stocks
Trade P&L %
-6.52%
from signal to today
Rank position
ranks 49th among the 56 sell signals for European-UK stocks in our ranking, with a signal strength of 2 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXH9
Sector regimein positive regime
Performanceweekly +0.44% · monthly +3.14%
RWE belongs to the european sector (reference ETF EXH9). The sector is classified in positive regime according to our weekly reading.
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