AT1.DE pushes through Thursday's high
Aroundtown SA (AT1.DE) Technical Analysis Report for Nov 09, 2018 | by Techniquant Editorial Team
Moving higher for the 4th day in a row, AT1.DE finished the week 4.76% higher at 7.48 after gaining €0.05 (0.67%) today on high volume, significantly outperforming the MDAX (-0.64%). Today's close at 7.48 marks the highest recorded closing price since October 2nd. Closing above Thursday's high at 7.46, the share confirmed its breakout through the prior session high after trading up to €0.05 above it intraday.
Daily Candlestick Chart (AT1.DE as at Nov 09, 2018):
Friday's trading range has been €0.11 (1.48%), that's below the last trading month's daily average range of €0.14. Things look different on the weekly timeframe, where the market's trading range of the last week has been above the market's average weekly trading range. The longer-term, monthly volatility is currently notably lower than usual for AT1.DE.
One bullish candlestick pattern matches today's price action, the White Candle.
After spiking up to 7.51 during the day, the stock found resistance at the 50-day moving average at 7.49. The last time this happened on October 18th, AT1.DE lost 0.00% on the following trading day.
Aroundtown SA shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Among the six market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bearish Bounce off SMA 50" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for Aroundtown SA. Out of 6 times, AT1.DE closed higher 83.33% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 66.67% with an average market move of 2.38%.