The decline loses steam in week two
Tesco stock slips 0.9% as the Sell signal loses its early punch
Our view last week
Seven days ago Tesco's buy signal was already struggling; this week it flips and a fresh Sell signal opens, ranking 7th among the 47 European sell signals. Tesco stock sheds 2.9%, with mixed rejection candles and the price boxed just above the 461 area: signal strength, at 70 out of 100, points to a decline making lower lows with its pace holding. The weekly technical analysis still shows the stock over 24% above its 200-week average.
This week's summary
Tesco's Sell signal is in its second week and the early push has already faded: signal strength drops from 70 to 28 out of 100, a decline making no new lows. The stock is down 0.9%, with mixed rejection candles and money flow back on the buy side. Tesco stock remains more than 23% above its 200-week average, and the confirmation week is still open.
IQS Phase
61
ordinary
Signal Strength
28
decline losing steam
Sizing
MINIMUM
Ranking
#23 / 46
EU-UK stocks sell signals
Trade P&L %
+0.93%
from signal to date, no stop loss
Rank position
ranks 23rd among the 46 sell signals for European-UK stocks in our ranking, with a signal strength of 28 out of 100.
Sector context
SectorEuropean
Benchmark ETFXLP
Sector regimein strong phase
Performanceweekly -0.12% · monthly +1.91%
TSCO belongs to the european sector (reference ETF XLP). The sector is classified in strong phase according to our weekly reading.
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