Total SA (TOT) could retest its 52-week lows with a quantitative downgrade by TheStreet quant service and a weak technical outlook.
In this daily chart of TOT, above, we can see the $52 level has stopped TOT in its tracks three times in the past 12 months. First in June 2015, then October 2015 and April this year. Prices have quickly sunk below the 50-day and 200-day moving averages. The On-Balance-Volume (OBV) line had moved up with the price action, a positive, but has turned lower again. Last, we find no bullish divergences to suggest the recent decline will be shallow.
In this weekly chart of TOT, above, we can see prices did rally above the 40-week moving average but have since weakened and could soon close below this average line. The OBV line on a weekly time frame moved up this year with prices but has since weakened. The Moving Average Convergence Divergence (MACD) oscillator got back over the zero line for a buy signal but it has narrowed again and could generate a new sell signal shortly. A decline back to the lows around $40 for TOT could be the path of least resistance based on the weakening chart picture.