AIR.PA pushes through Tuesday's high
Airbus SE (AIR.PA) Technical Analysis Report for Feb 13, 2019 | by Techniquant Editorial Team
Moving higher for the 4th day in a row, AIR.PA ended Wednesday at 104.38 gaining €1.60 (1.56%) on high volume. Today's close at 104.38 marks the highest recorded closing price since October 4, 2018. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Tuesday's high at 103.46, the market confirmed its breakout through the previous session high after trading up to €1.28 above it intraday.
Daily Candlestick Chart (AIR.PA as at Feb 13, 2019):
Wednesday's trading range has been €2.12 (2.06%), that's above the last trading month's daily average range of €1.79. Weekly volatility is also higher, being above the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for AIR.PA.
One bullish candlestick pattern matches today's price action, the White Candle. The last time a White Candle showed up on January 30th, AIR.PA gained 1.23% on the following trading day.
After having been unable to move lower than 102.44 in the prior session, the share found buyers again around the same price level today at 102.62.
Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Low close to previous low" stand out. Its common bullish interpretation has been confirmed for Airbus. Out of 533 times, AIR.PA closed higher 51.03% 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 56.85% with an average market move of 1.21%.