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


Commerzbank AG (CBK.DE) Technical Analysis Report for Apr 16, 2018 [1 min read]
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
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
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 chart for CBK.DE
Volatility

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.

Support/Resistance

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.

Trend

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.

Order Flow

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.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Commerzbank AG
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
Hanging Man TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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