The French drugmaker breaks out of its holding pattern
Sanofi rallies 4.5% and closes out 15 weeks of selling with a fresh buy signal
Our view last week
Sanofi's rebound is losing steam: after last week's 1.1% gain, the stock adds just 0.3% this week, with sellers turning slightly prevalent on the last bar again. Price stays boxed between a floor in the 75 area and a ceiling in the 75.6 area, the sell signal has been under management for 15 weeks, and the trade currently sits at a 3.3% loss.
This week's summary
Sanofi jumps 4.5% in a week marked by a bullish engulfing bar on the daily chart and buyers controlling 93% of volume: the stock leaves behind 15 weeks under a sell signal and opens a fresh buy signal. Price hasn't broken the 7-day high yet, in the 79 area, and stays below its own 50-week average. The weekly picture is bullish, but a few warnings are still open.
IQS Phase
44
ordinary
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#3 / 3
New eu-uk stocks
Trade P&L %
+0.00%
from signal to date, no stop loss
Rank position
ranks 3rd among the 3 fresh Longs for European-UK stocks in our ranking, with a signal strength of 47 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXV4
Sector regimein strong phase
Performanceweekly +4.34% · monthly +2.68%
SAN belongs to the european sector (reference ETF EXV4). The sector is classified in strong phase according to our weekly reading.
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