Tenaris: sellers retake control in earnings week
Tenaris stock drops 7.2% in earnings week as sellers retake control
Tenaris: sellers retake control in earnings week
Our view last week
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.
This week's summary
In earnings week, Tenaris stock gives back 7.2%: the picture turns sharply from the days of waiting. Sellers dominate the tape, with 92% of volume on the sell side, and the weekly bar marks the worst reading in four weeks. The sell signal, live for seven weeks, finds fresh momentum after weeks spent moving sideways. A technical read of a decline back in motion.
IQS Phase
77
in tension
Signal Strength
63
downtrend making lower lows, pace holding
Sizing
STANDARD
Ranking
#1 / 42
EU-UK stocks
Trade P&L %
+6.20%
from signal to date, no stop loss
Rank position
ranks 1st among the 42 sell signals for European-UK stocks in our ranking, with a signal strength of 63 out of 100.
Sector context
SectorItalian
Benchmark ETFEXV6
Sector regimein positive regime
Performanceweekly +5.15% · monthly +12.96%
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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