BAS.DE fails to close above 20-day moving average

BASF SE (BAS.DE) Technical Analysis Report for Jul 13, 2018

Highlights

BAS.DE closes below its opening price unable to hold early session gains
BAS.DE fails to close above 20-day moving average
BAS.DE closes higher for the 2nd day in a row
BAS.DE pushes through previous session high
BAS.DE ends the day indecisive

TQ Sentiment

Report Sentiment: 37% Bearish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, BAS.DE finished the week -0.5% lower at 81.90 after gaining €0.45 (0.55%) today on low volume. Trading €0.58 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing above Thursday's high at 81.88, the market confirms its breakout through the previous session's high having traded €0.65 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for BAS.DE

Volatility

Friday's trading range was €0.75 (0.92%), that's far below last trading month's daily average range of €1.42. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to the key resistance level at 82.64. After spiking up to 82.53 during the day, the share found resistance at the 20-day moving average at 82.37.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Buying might speed up should prices move above the close-by swing high at 83.19 where further buy stops could get activated. Selling might accelerate should prices move below the nearby swing low at 80.76 where further sell stops could get triggered. With prices trading close to this year's low at 79.79, downside momentum might speed up should BASF break out to new lows for the year.

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 BASF SE

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Latest Report:

BAS.DE rallies 1.63% on high volume

Sep 21, 2018
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