Shell, open buy in its 5th week
Shell holds above support and keeps its buy signal alive
Our view last week
Shell shares bounce 2% off their own 20-day moving average, in the 3280 area, and stay boxed into a very tight range: the first support sits a step away, in the 3311 area, and the resistance above, the 7-day high in the 3356 area, is barely 1% off. Weekly technical analysis confirms the buy signal, in its 4th week and already 2.6% in the money, with the setup quality indicator up to 84 out of 100 and the European energy sector in a firmly positive regime.
This week's summary
Shell is in the 5th week of a buy signal, up 5.36% since entry. The stock holds above its 50-week average with structural moving averages aligned: the underlying trend is intact. The pace, though, has turned more cautious, with contracting weekly volumes the only warning sign. Our desk sees a solid trade, not an explosive one: the stop already moved to breakeven zeroes out the risk, but conviction is not yet full.
IQS Phase
70
in tension
Signal Strength
49
medium · weak
Sizing
REDUCED
Ranking
#46 / 70
EU-UK stocks in progress
Trade P&L %
+5.36%
from signal to date, no stop loss
Rank position
ranks 46th among the 70 Longs already running for European-UK stocks in our ranking, with a signal strength of 49 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXH1
Sector regimein positive regime
Performanceweekly +1.43% · monthly +3.56%
SHEL belongs to the european sector (reference ETF EXH1). The sector is classified in positive regime according to our weekly reading.
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