DAI.DE pushes through key resistance level

Daimler AG (DAI.DE) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team


DAI.DE rallies 1.39% closing €0.93 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 finds buyers again around 66.85


DAI.DE ended Thursday at 67.80 surging €0.93 (1.39%). This is the biggest single day gain in over two weeks. Today's closing price of 67.80 marks the highest close since April 5th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 67.16, the stock confirms its breakout through the prior session's high having traded €0.64 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (DAI.DE as at May 17, 2018):

Daily technical analysis candlestick chart for Daimler AG (DAI.DE) as at May 17, 2018

Thursday's trading range was €0.95 (1.42%), that's slightly above last trading month's daily average range of €0.80. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Notwithstanding a weak opening Daimler managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

Breaking through the key resistance level at 67.37 today, it is now likely to act as support going forward. After having been unable to move lower than 66.77 in the prior session, the market found buyers again around the same price level today at 66.85.

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Market Conditions for DAI.DE as at May 17, 2018

Loading Market Conditions for DAI.DE (Daimler AG)...
Latest Report:

DAI.DE finds buyers again around 51.01

Mar 18, 2019
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