ALV.DE closes higher for the 2nd day in a row

Allianz SE (ALV.DE) Technical Analysis Report for Jul 13, 2018

Highlights

ALV.DE runs into sellers around 180.52 for the third day in a row
ALV.DE closes above its opening price after recovering from early selling pressure
ALV.DE closes higher for the 2nd day in a row
ALV.DE stuck within tight trading range
ALV.DE closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment:
Neutral
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, ALV.DE finished the week 0.16% higher at 179.90 after gaining €0.72 (0.4%) today. Trading up to €0.40 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for ALV.DE

Volatility

Friday's trading range was €1.12 (0.62%), that's far below last trading month's daily average range of €2.60. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 178.50 and 180.82 which it has been in now for the last three days.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

Allianz ran into sellers again today around 180.52 for the third trading day in a row after having found sellers at 180.82 in the previous session and at 180.66 two days ago.

Trend

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

Order Flow

Buying might accelerate should prices move above the nearby swing high at 180.82 where further buy stops could get activated. Selling might speed up should prices move below the close-by swing low at 178.50 where further sell stops could get triggered. Further buying might move prices higher should the market test June's nearby high at 183.98.

Conclusion

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

Market Conditions for Allianz SE

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