Saipem: 6.9% bounce off the double bottom, but the thrust is fading

Saipem is at week 26 of a trade with completed model coverage: all 3 statistical targets were touched within the first 8 weeks. The trade runs at +80% from entry; the structural stop — now at +68% from entry — protects the accumulated gain. This week a 6.9% rebound from the double bottom in the 4.1 area, after 2 weeks of heavy selling. The underlying thrust, however, is gradually fading.