Volkswagen's bounce runs out of steam
Volkswagen slips 2.3% as sellers retake control after the bounce
Volkswagen's bounce runs out of steam
Our view last week
Volkswagen shares bounce 3% this week, climbing 11% off a clean double bottom in the 70 area: buyers take charge of the tape, 64%, after last week's -4.9% drop. But daily money flow stays in distribution and the price action still carries a warning. The short is already more than 9% in profit: this week's technical analysis calls for watching the next move closely.
This week's summary
The bounce from seven days ago is already behind us: this week sellers retake the lead on Volkswagen stock, with 70% of volume on the sell side and the price down 2.3%. Daily money flow slides deeper into distribution and the weekly ADX keeps climbing, a sign the trend is gaining conviction. The sell signal has been under management for five weeks and the short is already more than 11% in profit: our weekly technical analysis on Volkswagen keeps a close eye on the next move.
IQS Phase
84
in tension / maturity
Signal Strength
21
decline starting to make lower lows
Sizing
MINIMUM
Ranking
#24 / 56
EU-UK stocks
Trade P&L %
+11.16%
from signal to today
Rank position
ranks 24th among the 56 sell signals for European-UK stocks in our ranking, with a signal strength of 21 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXHG
Sector regimeweak phase
Performanceweekly -2.23% · monthly -0.78%
VOW3 belongs to the european sector (reference ETF EXHG). The sector is classified weak phase according to our weekly reading.
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