ALV.DE closes within previous day's range after lackluster session

Allianz SE (ALV.DE) Technical Analysis Report for Sep 14, 2018

Highlights

ALV.DE finds buyers at key support level
ALV.DE ends the day on a bullish note closing near the high of the day
ALV.DE rises to highest close since August 29th
ALV.DE closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 28% Bullish
Technical Forecast:

Overview

ALV.DE finished the week 2.41% higher at 185.90 after gaining €1.04 (0.56%) today. Today's closing price of 185.90 marks the highest close since August 29th. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. 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

Friday's trading range was €1.16 (0.63%), that's far below last trading month's daily average range of €2.04. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.

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

After trading as low as 184.96 during the day, the share bounced off the key support level at 185.08. The failure to close below the support could increase that levels importance as support going forward. Prices are trading close to the key resistance level at 186.54.

Trend

Although still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

Buying might speed up should prices move above the close-by swing high at 186.54 where further buy stops could get triggered.

Conclusion

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

Market Conditions for Allianz SE

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