DB1.DE finds buyers around 109.00 for the third day in a row

Deutsche Börse AG (DB1.DE) Technical Analysis Report for Apr 16, 2018

Highlights

DB1.DE finds buyers around 109.00 for the third day in a row
DB1.DE closes below its opening price unable to hold early session gains
DB1.DE closes higher for the 2nd day in a row
DB1.DE closes within previous day's range after lackluster session
DB1.DE ends the day indecisive

TQ Sentiment

Report Sentiment: 28% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, DB1.DE finished Monday at 109.55 gaining €0.50 (0.46%). Trading €0.55 higher after the open, DB1 was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for DB1.DE

Volatility

Monday's trading range was €1.15 (1.05%), that's far below last trading month's daily average range of €2.11. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 108.70. The share found buyers again today around 109.00 for the third trading day in a row after having found demand at 108.80 in the prior session and at 108.75 two days ago.

Trend

While the market is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Order Flow

Selling could speed up should prices move below the close-by swing low at 108.75 where further sell stops might get triggered. As prices are trading close to April's low at 108.60, downside momentum could accelerate should the stock mark new lows for the month.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Deutsche Börse AG

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