ALV.DE dominated by bulls lifting the market higher throughout the day


Allianz SE (ALV.DE) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
ALV.DE pushes through key resistance level
ALV.DE dominated by bulls lifting the market higher throughout the day
ALV.DE fails to close above 20-day moving average
ALV.DE ends the day on a bullish note closing near the high of the day
ALV.DE pushes through previous session high
TQ Sentiment
Report Sentiment: 75% Bullish
Technical Forecast:
Overview

ALV.DE finished Thursday at 183.06 gaining €2.88 (1.6%) on high volume. Today's closing price of 183.06 marks the highest close since May 28th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 181.60, the share confirms its breakout through the previous session's high having traded €2.28 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 ALV.DE
Volatility

Thursday's trading range was €5.00 (2.79%), that's far above last trading month's daily average range of €3.38. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.

Price Action

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar. Regardless of a weak opening Allianz managed to close above the prior day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

Breaking through the key resistance level at 183.04 today, it is now likely to act as support going forward. After spiking up to 183.88 during the day, the market found resistance at the 20-day moving average at 183.25.

Trend

Although the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Conclusion

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

Market Conditions for Allianz SE
Condition Forecast Direction Win Avg Worst Best Events
Bearish Break through SMA 100 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Black Candle TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Decisive Down Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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