Tenaris: a bounce without confirmation
Tenaris bounces 2.7% and the Sell signal still shows no fresh push
Tenaris: a bounce without confirmation
Our view last week
Tenaris shares closed the week up 1.9%, and the Sell signal feels it: the decline is still without fresh push, and in our weekly technical analysis the stock has slipped from first to 31st among the 54 European sell signals. Last week the drop was making lower lows; this time the pace has stopped. The stock still trades 42% above its 200-week average, and our model flags a fresh short entry as high-risk.
This week's summary
Tenaris shares bounce 2.7% off the daily 20-day average, but the rally doesn't convince: volume fades just as price rises, and money flow stays on the sell side. It's the mark of a Sell signal with no fresh push, which in our weekly technical analysis slips further, to 52nd out of 53 European sell signals. The three observation weeks closed sideways, without confirmation from the market.
Sell signal in observation
·4th week from start
·EU-UK stocks
·T2
·📅 Earnings · Aug 5
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IQS Phase
66
in tension
Signal Strength
2
decline losing steam
Sizing
MINIMUM
Ranking
#52 / 53
EU-UK stocks sell signals
Trade P&L %
-0.49%
from signal to today
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