It did not work well last week. For 4 days in a row declining prices. Yesterday the stock dropped to the lower end of the trend channel and developed a sell signal. According to the books it is necessary to sell, to close the investment. All other indicators give the very same feedback.
The interesting point is how the stock performed during last Friday's session. It looks like someone was really keen to sell and the value dropped within the first hour down to 54.70 Euros. The paper recovered during the day specially in the afternoon when investors could see how the markets in US started.
Conclusion: A drop for 4 days will hardly continue but there are always exceptions. Monday morning will tell if the stock will go out of the trend channel and will conform the indicators.
But as always: just my 5 cents
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