STMicroelectronics' decline picks up speed
STMicroelectronics stock sinks 7.7% as the decline keeps making lower lows
Our view last week
STMicroelectronics stock gives back ground: after last week's 5.6% rebound, the stock drops 3.2% this week as sellers retake 98% of daily volume. On the daily chart, though, a run of 4 higher lows stretches from the 42 area to the 47 area — a mixed picture, with price boxed between a nearby support and resistance.
This week's summary
STMicroelectronics stock sinks 7.7% in a brutal week, with sellers controlling 92% of daily volume as price nears both its 7-day low and its 200-day moving average. Our weekly technical analysis confirms the sell signal, now in its sixth week and already up nearly 20%: the decline keeps making lower lows, with no sign of exhaustion.
IQS Phase
76
in tension
Signal Strength
70
downtrend making lower lows, pace holding
Sizing
STANDARD
Ranking
#4 / 46
EU-UK stocks
Trade P&L %
+19.88%
from signal to date, no stop loss
Rank position
ranks 4th among the 46 sell signals for European-UK stocks in our ranking, with a signal strength of 70 out of 100.
Sector context
SectorItalian
Benchmark ETFEXV3
Sector regimeweak phase
Performanceweekly -1.88% · monthly +3.58%
STMMI belongs to the italian sector (reference ETF EXV3). The sector is classified weak phase according to our weekly reading.
restricted Platinum content