AIR.PA finds buyers again around 49.51
Airbus SE (AIR.PA) Technical Analysis Report for Apr 03, 2020 | by Techniquant Editorial Team
Moving lower for the 6th day in a row, AIR.PA ended the week -27.37% lower at 49.51 after edging lower €0.76 (-1.51%) today on low volume. Trading €1.34 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 50.00, the share confirmed its breakout through the previous session low after trading up to €0.49 below it intraday.
Daily Candlestick Chart (AIR.PA as at Apr 03, 2020):
Friday's trading range has been €2.39 (4.73%), that's far below the last trading month's daily average range of €8.58. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently notably lower than usual for AIR.PA.
After having been unable to move lower than 50.00 in the prior session, Airbus found buyers again around the same price level today at 49.51. The last time this happened on Tuesday, AIR.PA actually lost -12.03% on the following trading day.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
With prices trading close to this year's low at 48.12, downside momentum might speed up should the stock break out to new lows for the year.
Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "RSI(14) below 30" stand out. Its common bullish interpretation has been confirmed for Airbus. Out of 16 times, AIR.PA closed higher 68.75% 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 68.75% with an average market move of 1.84%.