New Sell Signal on STMicroelectronics
STMicroelectronics sheds 13.3%: fresh sell signal fires ahead of earnings
New Sell Signal on STMicroelectronics
Our view last week
STMicroelectronics weekly technical analysis: buyers are back, with 68% of the week's volume on the buy side, even as the price eased 1.2% and stayed boxed between the 62 and 60 areas. The weekly structure is very strong (ADX above 50), but the MACD and money flow keep fading, a trend running for a month now. The stock, under management since week 31 with a gain above 176%, now looks ahead to earnings on July 23.
This week's summary
STMicroelectronics stock sheds 13.3% this week, but the price had already carved a clean double bottom in the 57 area with an intermediate 15% rebound. It's a sharp reversal: last week the buy trade held on structure but was losing ground on MACD and money flow; now a fresh Sell signal has fired, with signal strength at its ceiling and earnings landing this very week, on July 23. Our model flags trading as not recommended.
IQS Phase
37
ordinary
Signal Strength
100
downtrend making lower lows, pace holding
Sizing
STANDARD
Ranking
#3 / 53
New eu-uk stocks
Trade P&L %
+0.00%
from signal to today
restricted Platinum content