BAS.DE finds support at 200-day moving average
BASF SE (BAS.DE) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, BAS.DE finished Thursday at 88.90 gaining €0.32 (0.36%). Today's closing price of 88.90 marks the highest close since February 7th. Trading up to €0.31 lower after the open, BASF managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Wednesday's high at 88.71, the stock confirms its breakout through the prior session's high having traded €0.27 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (BAS.DE as at May 17, 2018):
Thursday's trading range was €0.79 (0.89%), that's below last trading month's daily average range of €1.22. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
After trading as low as 88.19 during the day, the share found support at the 200-day moving average at 88.38.
Although still in a long-term downtrend, the short and medium-term trends both turned bullish already.