AIR.PA pushes through 20-day moving average


Airbus SE (AIR.PA) Technical Analysis Report for May 17, 2018 [1 min read]
Highlights
AIR.PA rallies 1.65% closing €1.59 higher
AIR.PA pushes through key resistance level
AIR.PA dominated by bulls lifting the market higher throughout the day
AIR.PA pushes through 20-day moving average
AIR.PA closes higher for the 2nd day in a row
TQ Sentiment
Report Sentiment: 75% Bullish
Technical Forecast:
Overview

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 chart for AIR.PA
Volatility

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.

Support/Resistance

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.

Trend

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.

Order Flow

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.

Conclusion

While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Airbus SE
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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