Decline losing steam, earnings this week
Tenaris stock slips 2.3% as its Sell signal keeps losing steam
Decline losing steam, earnings this week
Our view last week
Tenaris posts its third straight weekly gain, up 2.9%, with buyers making up 79% of turnover and money flow improving. Our technical analysis on Tenaris stock still flags caution: overall volume is contracting and distribution continues, while the weekly ADX slips, confirming a decline losing steam. Price also bounced off the daily 20-day moving average, in the 25 area, recovering 3%. The sell signal, open for four weeks, still hasn't found full confirmation from the market.
This week's summary
After three straight weekly gains, Tenaris stock gives back 2.3% and bounces again off its daily 20-day moving average, in the 25 area. Beneath the surface the picture hasn't changed: money flow keeps improving, the weekly ADX slips further, confirming a decline that keeps losing steam. Earnings are due this same week, on August 5, and could stir volatility.
IQS Phase
51
ordinary
Signal Strength
19
decline fading out
Sizing
MINIMUM
Ranking
#30 / 47
EU-UK stocks
Trade P&L %
-1.09%
from signal to date, no stop loss
Rank position
ranks 30th among the 47 sell signals for European-UK stocks in our ranking, with a signal strength of 19 out of 100.
Sector context
SectorItalian
Benchmark ETFEXV6
Sector regimein positive regime
Performanceweekly +1.71% · monthly +1.88%
TEN belongs to the italian sector (reference ETF EXV6). The sector is classified in positive regime according to our weekly reading.
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