Usiminas: sell resumes, momentum turns negative
Usiminas sheds 2.6% as the sell signal regains its footing
Usiminas: sell resumes, momentum turns negative
Our view last week
On the daily chart Usiminas carved out a double bottom in the 8.1 area, with an intermediate 10% rebound; on the weekly, though, the stock shed 3.6% after last week's bounce, and the Sell signal is back to making lower lows. Setup quality climbs to 65 out of 100 (from 44) and Usiminas moves up to 6th among the 21 Rest of the World sell signals, up from last place a week ago.
This week's summary
Usiminas stock stays in this week's technical analysis spotlight: the sell signal has been under management for 4 weeks, with the short already up 10.25%. After last week's bounce the decline resumed, shedding 2.6%, and the confirmation shows up in the flows too: money just turned to the sell side and momentum, positive for weeks, flipped negative. On the daily chart the double bottom in the 7.9 area still holds, with an intermediate 15% rebound already in place.
Ongoing decline
·5th week from start
·Rest of the World stocks
·T2
·📅 Earnings · Jul 31
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IQS Phase
67
in tension
Signal Strength
43
downtrend making lower lows, pace holding
Sizing
REDUCED
Ranking
#9 / 16
Rest of the World stocks
Trade P&L %
+10.25%
from signal to today
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