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 [1 min read]
Highlights
DBK.DE closes above its opening price after recovering from early selling pressure
DBK.DE finds buyers again around 9.46
DBK.DE stuck within tight trading range
DBK.DE closes within previous day's range
DBK.DE ends the day indecisive
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

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.

Daily chart for DBK.DE
Volatility

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.

Support/Resistance

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.

Trend

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.

Order Flow

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.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Deutsche Bank AG
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing Low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Close to Swing High TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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