RWE, the decline is losing steam
RWE stock: down 2.8% but bounces off the EMA20 as the decline loses steam
RWE, the decline is losing steam
Our view last week
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.
This week's summary
RWE's Sell signal has been under management for 11 weeks, and this week the stock gave back 2.8%, only to bounce straight back 3% off the daily EMA20, in the 57 area. RWE stock stays boxed into a tight band: the ADX has fallen for a fourth straight week, the decline keeps losing conviction, while money flow stays negative but is improving. Technical analysis pointing to indecision, not a fresh leg down.
IQS Phase
62
ordinary
Signal Strength
19
decline fading out
Sizing
MINIMUM
Ranking
#29 / 47
EU-UK stocks
Trade P&L %
-3.59%
from signal to date, no stop loss
Rank position
ranks 29th among the 47 sell signals for European-UK stocks in our ranking, with a signal strength of 19 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXH9
Sector regimeweak phase
Performanceweekly -3.06% · monthly -0.68%
RWE belongs to the european sector (reference ETF EXH9). The sector is classified weak phase according to our weekly reading.
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