Technical rebound off a double bottom
Schneider Electric rebounds 2.1% on a double bottom in the 259 area
Technical rebound off a double bottom
Our view last week
Schneider Electric shares slip another 2.7% this week, the fourth decline in four weeks of technical analysis: the MACD has just confirmed a bearish cross and momentum has turned negative. Money flow has stayed mildly negative for weeks, while price remains boxed between the 20-week average, in the 265 area, and the daily pivot average, in the 261 area. The trade slips to -5.81% from entry.
This week's summary
Schneider Electric shares rebound 2.1% this week, in a technical analysis picture built on a clean double bottom in the 259 area, with a 7% intermediate rebound and buyers back in control on the daily chart, at 93% of volume. Weekly money flow stays negative but is drying up, while the MACD still confirms the weak phase. Price is now boxed into a tight band between the 267 and 270 areas, the key junction for whether the rebound gains traction.
IQS Phase
34
ordinary
Signal Strength
56
medium
Sizing
STANDARD
Ranking
#27 / 59
EU-UK stocks in progress
Trade P&L %
-3.80%
from signal to today
Rank position
ranks 27th among the 59 Longs already running for European-UK stocks in our ranking, with a signal strength of 56 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXH4
Sector regimein positive regime
Performanceweekly +1.57% · monthly +0.29%
SU belongs to the european sector (reference ETF EXH4). The sector is classified in positive regime according to our weekly reading.
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