CON.DE closes higher for the 2nd day in a row
Continental AG (CON.DE) Technical Analysis Report for Jul 13, 2018
Moving higher for the 2nd day in a row, CON.DE ended the week 1.66% higher at 201.80 after gaining €1.70 (0.85%) today on low volume. Today's closing price of 201.80 marks the highest close since June 27th. Closing above Thursday's high at 200.50, Continental confirms its breakout through the prior session's high having traded €2.20 above it intraday.
Friday's trading range was €1.90 (0.95%), that's far below last trading month's daily average range of €4.28. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.
Although the share 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.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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