CAP.DE closes within previous day's range


Capital Stage (CAP.DE) Technical Analysis Report for Nov 09, 2018 | by Techniquant Editorial Team

Highlights

CAP.DE unable to break through key resistance level
CAP.DE closes within previous day's range

Overview

CAP.DE ended the week 1.32% higher at 6.16 after flat today, slightly outperforming the SDAX (-0.47%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.

Daily Candlestick Chart (CAP.DE as at Nov 09, 2018):

Daily technical analysis candlestick chart for Capital Stage (CAP.DE) as at Nov 09, 2018

Friday's trading range has been €0.13 (2.13%), that's slightly above the last trading month's daily average range of €0.13. Things look different on the weekly timeframe, where the market's trading range of the last week has been way below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for CAP.DE.

One bearish candlestick pattern matches today's price action, the Last Engulfing Top Pattern. The last time a Last Engulfing Top Pattern showed up on Tuesday, CAP.DE lost 0.00% on the following trading day.

Unable to break through the key technical resistance level at 6.18 (R1), the stock closed below it after spiking up to 6.22 earlier during the day. The failure to close above the resistance might increase that levels importance going forward.

Although Capital Stage is experiencing a short-term uptrend, this could just be a correction, as both the medium and long-term trends are still bearish.

Buying might accelerate should prices move above the close-by swing high at 6.26 where further buy stops could get triggered.

Among the four market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Close to Swing High" stand out. While it is usually interpreted as neutral, it has actually shown to be bearish for Capital Stage. Out of 752 times, CAP.DE closed lower 48.67% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after seven trading days, showing a win rate of 49.60% with an average market move of -0.01%.


Market Conditions for CAP.DE as at Nov 09, 2018

Loading Market Conditions for CAP.DE (Capital Stage)...

We are currently reviewing the data for CAP.DE

We expect this issue to be resolved within 24 hours.

Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Capital Stage traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!