UniCredit hugs the highs, the rally loses steam
UniCredit gains 1.5% and tests the highs again, but resistance still holds
UniCredit hugs the highs, the rally loses steam
Our view last week
UniCredit consolidates in a tight band below its highs: this week price closes almost flat, -0.2%, with sellers still slightly ahead on volume but unable to push the stock out of range. UniCredit stock stays squeezed between the 20-day moving average, in the 80.6 area, and the daily pivot just below, in the 80 area: last week's earnings are now behind it, and the trade, in its 14th week, is up 12%.
This week's summary
UniCredit closes the week up 1.5%, pushing back toward its recent highs after last week's pause. The bounce starts from the 20-day moving average, with buyers back in charge of weekly volume (65%), while the Italian banking sector stays in a positive regime. The trade, in its 15th week, is up 13.65%.
IQS Phase
46
ordinary
Signal Strength
29
low · fading
Sizing
MINIMUM
Ranking
#61 / 61
EU-UK stocks in progress
Trade P&L %
+13.65%
from signal to date, no stop loss
Rank position
ranks 61st among the 61 Longs already running for European-UK stocks in our ranking, with a signal strength of 29 out of 100.
Sector context
SectorItalian
Benchmark ETFEXV1
Sector regimein positive regime
Performanceweekly +2.05% · monthly +3.45%
UCG belongs to the italian sector (reference ETF EXV1). The sector is classified in positive regime according to our weekly reading.
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