BAS.DE closes within prior day's range after lackluster session

BASF SE (BAS.DE) Technical Analysis Report for Sep 14, 2018

Highlights

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

TQ Sentiment

Report Sentiment: 25% Bearish
Technical Forecast:

Overview

BAS.DE ended the week 1.22% higher at 77.88 after edging lower €0.10 (-0.13%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.

Daily chart for BAS.DE

Volatility

Friday's trading range was €0.65 (0.83%), that's far below last trading month's daily average range of €1.00. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.

Price Action

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

Support/Resistance

Prices are trading close to the key resistance level at 78.48.

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 78.48 where further buy stops could get activated.

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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BAS.DE rallies 1.63% on high volume

Sep 21, 2018
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