DAI.DE pushes through previous session high


Daimler AG (DAI.DE) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
DAI.DE rallies 2.37% closing €1.46 higher
DAI.DE pushes through key resistance level
DAI.DE dominated by bulls lifting the market higher throughout the day
DAI.DE ends the day on a bullish note closing near the high of the day
DAI.DE pushes through previous session high
TQ Sentiment
Report Sentiment: 87% Bullish
Technical Forecast:
Overview

DAI.DE ended Thursday at 63.19 surging €1.46 (2.37%). This is the biggest single day gain in over two months. Today's closing price of 63.19 marks the highest close since May 28th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 62.49, the share confirms its breakout through the prior session's high having traded €0.94 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for DAI.DE
Volatility

Thursday's trading range was €2.31 (3.77%), that's far above last trading month's daily average range of €1.14. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being way above average.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar. Despite a weak opening the stock managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

Breaking through the key resistance level at 63.04 today, it is now likely to act as support going forward.

Trend

While the market 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.

Conclusion

Even though both sentiments are bullish for the next trading day, our quantitative statistics are only bullish while the classical technical analysis metrics show a very bullish sentiment.

Market Conditions for Daimler AG
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Black Candle TQ Pro Members Only
Price broke through Technical Support S1 TQ Pro Members Only
Bullish Hikkake Pattern TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

DAI.DE breaks key support level

Aug 14, 2018
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