ADL.DE finds buyers again around 14.06


ADLER Real Estate (ADL.DE) Technical Analysis Report for Feb 13, 2019 | by Techniquant Editorial Team

Highlights

ADL.DE breaks back below 100-day moving average
ADL.DE closes below its opening price unable to hold early session gains
ADL.DE finds buyers again around 14.06
ADL.DE still stuck within tight trading range
ADL.DE closes within previous day's range

Overview

ADL.DE ended Wednesday at 14.08 losing €0.18 (-1.26%), notably underperforming the SDAX (0.67%). Trading €0.10 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.

Daily Candlestick Chart (ADL.DE as at Feb 13, 2019):

Daily technical analysis candlestick chart for ADLER Real Estate (ADL.DE) as at Feb 13, 2019

Wednesday's trading range has been €0.20 (1.41%), that's slightly below the last trading month's daily average range of €0.23. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for ADL.DE. Prices continued to consolidate within a tight trading range between 13.96 and 14.26 where it has been caught now for the whole last trading week.

One bullish candlestick pattern matches today's price action, the Tweezer Top.

The market closed back below the 100-day moving average at 14.24. After having been unable to move lower than 14.06 in the previous session, the stock found buyers again around the same price level today at 14.06. The last time this happened on Monday, ADL.DE gained 1.13% on the following trading day.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Buying might speed up should prices move above the nearby swing high at 14.26 where further buy stops could get activated. Selling might accelerate should prices move below the close-by swing low at 13.96 where further sell stops could get triggered.

Among the 10 market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Close near low of period" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for ADLER Real. Out of 351 times, ADL.DE closed higher 57.26% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 62.39% with an average market move of 3.11%.


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