DAI.DE pushes through key resistance level


Daimler AG (DAI.DE) Technical Analysis Report for May 17, 2018 [1 min read]
Highlights
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
TQ Sentiment
Report Sentiment: 87% Bullish
Technical Forecast:
Overview

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 chart for DAI.DE
Volatility

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.

Price Action

Notwithstanding a weak opening Daimler 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 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.

Trend

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

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
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bearish Bounce off SMA 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Daimler AG traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

ETHUSD 448.3514.61 3.37%
NKY 22,597.35409.39 1.85%
BTCUSD 6,363.5989.46 1.43%
DAX 12,540.7347.76 0.38%
INDU 25,019.4194.52 0.38%
DXY 94.500-0.065 -0.07%
USDJPY 112.36-0.17 -0.15%
GOLD 1,241.8-5.9 -0.47%
NATGAS 2.758-0.042 -1.50%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV96.63 1.02
1.07%
ACN 10 day candlestick chart for ACN168.09 0.06
0.04%
ADBE 10 day candlestick chart for ADBE258.59 3.72
1.46%
AAP 10 day candlestick chart for AAP139.34 0.55
0.40%
AES 10 day candlestick chart for AES13.18 0.08
0.61%
AET 10 day candlestick chart for AET191.89 0.81
0.42%
AFL 10 day candlestick chart for AFL42.60 0.12
0.28%
AMG 10 day candlestick chart for AMG148.48 -0.68
-0.46%
A 10 day candlestick chart for A63.38 -0.07
-0.11%
ABT 10 day candlestick chart for ABT63.06 0.32
0.51%