CON.DE slips to lowest close since August 3rd
Continental AG (CON.DE) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
CON.DE finished the week 1.11% higher at 186.50 after losing €2.50 (-1.32%) today. Today's closing price of 186.50 marks the lowest close since August 3rd. Closing below Thursday's low at 186.85, the stock confirms its breakout through the prior session's low having traded €1.50 below it intraday.
Daily Candlestick Chart (CON.DE as at Aug 10, 2018):
Friday's trading range was €2.55 (1.36%), that's below last trading month's daily average range of €3.96. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying could speed up should prices move above the nearby swing high at 190.05 where further buy stops might get activated. 2,017's low at 180.70 is within reach and we could see further downside momentum should the market break out beyond.