DBK.DE pops to highest close since September 5th
Deutsche Bank AG (DBK.DE) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, DBK.DE finished the week 1.66% higher at 9.78 after gaining €0.06 (0.62%) today. Today's closing price of 9.78 marks the highest close since September 5th. Closing within the previous day's range, prices failed to decisively move past 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 Candlestick Chart (DBK.DE as at Sep 14, 2018):
Friday's trading range was €0.22 (2.25%), that's slightly below last trading month's daily average range of €0.22. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 9.45 and 9.85 which it has been in now for the last trading week.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
After trading as low as 9.62 during the day, the market bounced off the key support level at 9.72. The failure to close below the support could increase that levels importance as support going forward. After having been unable to move above 9.85 in the prior session, the share ran into sellers again around the same price level today, failing to move higher than 9.84.
Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Buying might speed up should prices move above the nearby swing high at 9.85 where further buy stops could get activated.