Selling eases as the double bottom holds
Telecom Italia slips 1.8% but the double bottom keeps sellers in check
Selling eases as the double bottom holds
Our view last week
Weekly technical analysis: Telecom Italia stock slips 1.6%, with sellers back in control after weeks of strong buying — the very fatigue last week's summary flagged to watch. Price still defends a double bottom in the 7.3 area, with a 3% daily rebound, and the trend keeps gaining strength: weekly ADX rises for a fourth straight week. The trade has been under management for 13 weeks, up 25% since entry.
This week's summary
Telecom Italia slips 1.8% for a second straight week, but sellers are easing their grip: last week they held 80% of volume, now down to 61%. The double bottom in the 7.5 area holds, with a 10% interim rebound, while the weekly RSI drops from 83 to 74 — still overbought, but cooling. ADX, which climbed for four straight weeks, is now stabilizing around 47: the trend is catching its breath. The trade has been under management for 14 weeks, up 22.7%.
IQS Phase
55
ordinary
Signal Strength
56
medium
Sizing
STANDARD
Ranking
#30 / 61
EU-UK stocks in progress
Trade P&L %
+22.72%
from signal to today
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