Tesco: fresh buy signal, first week
Tesco gains 2.7% and opens a fresh buy signal on a string of higher lows
Tesco: fresh buy signal, first week
Our view last week
Tesco's rebound is now in its third straight week: after the mid-June plunge the stock is back within reach of its recent highs, with the weekly RSI up at 53 and buyers controlling 75% of volume. The Sell signal, in its 9th week, is losing steam — the short is now down 5%. Tesco's weekly technical analysis shows price boxed between the 471 and 476 areas, a tight range that favors the recovery.
This week's summary
This week Tesco triggered a fresh buy signal, ranking 5th among the 6 new Longs for European-UK stocks. The stock closed the week up 2.7%, with 5 rising daily lows in a row and the weekly structure still orderly above the Ichimoku cloud. The picture stays in transition though: the weekly ADX is slowing and volume is contracting. Tesco shares remain a name to watch with a cautious entry, not one to chase with full conviction.
IQS Phase
61
ordinary
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#5 / 6
New eu-uk stocks
Trade P&L %
+0.00%
from signal to today
restricted Platinum content