VWO: the bounce fades, sellers back in charge
VWO drops 3.4% and retests its double bottom as sellers retake control
VWO: the bounce fades, sellers back in charge
Our view last week
This week VWO carved out a clean double bottom in the 58 area, with an intraweek rebound of 7% and buyers back in charge: 83% of volume on the buy side, up from 42% last week. The picture stays cautious: momentum and the ADX are falling, a sign the push is losing steam as price returns near its highs, in a zone already tested several times. Whether the double bottom holds will be the first thing to watch.
This week's summary
VWO's rebound lasted exactly one week: after last week's 7% bounce, sellers took back control this week, with 76% of volume on the sell side, and price gave back 3.4%, sliding back toward the double bottom in the 57 area. In our VWO technical analysis the picture stays fragile: RSI, MACD and momentum are all turning down. Whether that low holds, as flagged last week, is still the thing to watch.
IQS Phase
55
ordinary
Signal Strength
42
medium · weak
Sizing
REDUCED
Ranking
#72 / 112
US stocks in progress
Trade P&L %
-2.26%
from signal to today
restricted Platinum content