DBK.DE closes above its opening price after recovering from early selling pressure
Deutsche Bank AG (DBK.DE) Technical Analysis Report for Jul 13, 2018
DBK.DE ended the week -1.54% lower at 9.61 after gaining €0.05 (0.52%) today. Trading up to €0.14 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was €0.28 (2.92%), that's slightly above last trading month's daily average range of €0.27. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 9.45 and 9.74 which it has been in now for the last three days.
Prices are trading close to a key support level at 9.40. Prices are trading close to the key resistance level at 9.79. After having been unable to move lower than 9.45 in the previous session, the market found buyers again around the same price level today at 9.46.
Though the share is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.
Buying might speed up should prices move above the close-by swing high at 9.90 where further buy stops could get triggered. Selling might accelerate should prices move below the nearby swing low at 9.45 where further sell stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.