AIR.PA soars, gaining €3.92 (3.16%) within a single day on high volume
Airbus SE (AIR.PA) Technical Analysis Report for Dec 04, 2019 | by Techniquant Editorial Team
AIR.PA ended Wednesday at 127.98 surging €3.92 (3.16%) on high volume. This is the biggest single-day gain in over a month. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range.
Daily Candlestick Chart (AIR.PA as at Dec 04, 2019):
Wednesday's trading range has been €3.88 (3.11%), that's far above the last trading month's daily average range of €2.24. Weekly volatility is also higher, being way above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for AIR.PA.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar. Additionally, one bullish candlestick pattern matches today's price action, the White Candle. The last time a White Candle showed up on November 26th, AIR.PA actually lost -1.28% on the following trading day.
The market managed to close back above the 100-day moving average at 125.79. Prices are trading close to the key technical resistance level at 128.78 (R1). After having been unable to move lower than 124.06 in the prior session, the share found buyers again around the same price level today at 124.50.
Crossing above the lower Bollinger Band, prices have lost at least some of their downward momentum in the short-term and could now be heading back up towards the mean of the Bollinger Bands at 133.31.
Airbus shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.
Among the 10 market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close crossed above the lower Bollinger Band" stand out. Its common bullish interpretation has been confirmed for Airbus. Out of 60 times, AIR.PA closed higher 60.00% 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 68.33% with an average market move of 2.68%.