DAI.DE breaks below prior session low
Daimler AG (DAI.DE) Technical Analysis Report for Apr 16, 2018
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.
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.
Prices are trading close to a key support level at 65.06.
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.
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.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bearish.
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