DAI.DE breaks below prior session low


Daimler AG (DAI.DE) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
DAI.DE breaks below 50-day moving average
DAI.DE ends the day on a bearish note closing near the low of the day
DAI.DE breaks below previous session low
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

DAI.DE ended Monday at 65.31 losing €0.34 (-0.52%). Closing below Friday's low at 65.55, the stock confirms its breakout through the prior session's low having traded €0.34 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for DAI.DE
Volatility

Monday's trading range was €0.74 (1.12%), that's below last trading month's daily average range of €1.17. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 65.06.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. The market broke below the 50-day moving average at 65.47 today for the first time since February 19th.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 66.34 where further buy stops could get triggered. Selling might speed up should prices move below the close-by swing low at 64.92 where further sell stops could get activated. Further buying might move prices higher should the market test March's nearby high at 66.77. As prices are trading close to April's low at 63.63, downside momentum could accelerate should Daimler mark new lows for the month.

Conclusion

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

Market Conditions for Daimler AG
ConditionForecastDirectionWinAvgWorstBestEvents
White Candle TQ Pro Members Only
Bullish Short Candle TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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