CBK.DE closes lower for the 2nd day in a row


Commerzbank AG (CBK.DE) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team

Highlights

CBK.DE unable to break through key resistance level
CBK.DE closes lower for the 2nd day in a row
CBK.DE finds buyers again around 10.68
CBK.DE closes within previous day's range after lackluster session
CBK.DE ends the day indecisive

Overview

Moving lower for the 2nd day in a row, CBK.DE finished Monday at 10.74 losing €0.01 (-0.09%) on low volume. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (CBK.DE as at Apr 16, 2018):

Daily technical analysis candlestick chart for Commerzbank AG (CBK.DE) as at Apr 16, 2018

Monday's trading range was €0.15 (1.4%), that's far below last trading month's daily average range of €0.31. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Unable to break through the key technical resistance level at 10.78, Commerzbank closed below it after spiking as high as 10.83 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move lower than 10.68 in the prior session, the share found buyers again around the same price level today at 10.68.

While the stock is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Buying might speed up should prices move above the nearby swing high at 11.04 where further buy stops could get triggered. Selling might accelerate should prices move below the close-by swing low at 10.59 where further sell stops could get activated. With prices trading close to this year's low at 10.05, downside momentum might speed up should the market break out to new lows for the year.


Market Conditions for CBK.DE as at Apr 16, 2018

Loading Market Conditions for CBK.DE (Commerzbank AG)...
Latest Report:

CBK.DE ends the day indecisive

Dec 18, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Commerzbank AG 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!