ADJ.DE closes within previous day's range
ADO Properties (ADJ.DE) Technical Analysis Report for Mar 15, 2019 | by Techniquant Editorial Team
ADJ.DE ended the week 3.38% higher at 53.60 after flat today on high volume, underperforming the SDAX (0.65%). Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range.
Daily Candlestick Chart (ADJ.DE as at Mar 15, 2019):
Friday's trading range has been €0.95 (1.78%), that's slightly above the last trading month's daily average range of €0.91. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently strongly higher than usual for ADJ.DE.
Prices are trading close to the key technical support level at 53.15 (S1).
Crossing below the upper Bollinger Band, prices have lost at least some of their upward momentum in the short-term and might now be heading back down towards the mean of the Bollinger Bands at 51.74. The last time this happened on August 21, 2018, ADJ.DE actually gained 0.95% on the following trading day.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.