Snam: the decline stalls, but doesn't reverse

Snam reaches week 6 of the sell signal with the decline stalling rather than accelerating. The week closed down 2.4%, with the daily double bottom in the 6.1 area still intact. The quality band flags trading not recommended — the stock remains 22.5% above the 200-week moving average — and those already holding a short position are tracking the technical picture week by week.