DBK.DE ends the day on a bearish note closing near the low of the day
Deutsche Bank AG (DBK.DE) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
DBK.DE finished Monday at 11.60 losing €0.10 (-0.85%) on low volume. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 11.63, the market confirms its breakout through the previous session's low having traded €0.07 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (DBK.DE as at Apr 16, 2018):
Monday's trading range was €0.23 (1.96%), that's below last trading month's daily average range of €0.34. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
Even with a strong opening DeutscheBank closed below the prior day's open and close, forming a bearish Engulfing Candle.
Prices are trading close to a key support level at 11.39.
Although the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory. The share broke below the 20-day moving average at 11.64 today for the first time since March 9th.
Buying could accelerate should prices move above the nearby swing high at 11.94 where further buy stops might get activated. Selling could speed up should prices move below the close-by swing low at 11.32 where further sell stops might get triggered.