AIR.PA pushes through 20-day moving average
Airbus SE (AIR.PA) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, AIR.PA finished Thursday at 97.98 surging €1.59 (1.65%). This is the biggest single day gain in over a week. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 96.68, the share confirms its breakout through the prior session's high having traded €1.30 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (AIR.PA as at May 17, 2018):
Thursday's trading range was €1.57 (1.63%), that's slightly below last trading month's daily average range of €1.76. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being below average.
Breaking through the key resistance level at 97.10 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 98.70.
Although Airbus is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive. The market managed to break above the 20-day moving average at 97.38 today for the first time since April 17th.
With prices trading close to this year's high at 100.42, upside momentum might speed up should the stock be able to break out to new highs for the year.