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 [1 min read]
Highlights
DBK.DE dominated by bears dragging the market lower throughout the day
DBK.DE breaks below 20-day moving average
DBK.DE ends the day on a bearish note closing near the low of the day
DBK.DE breaks below previous session low
TQ Sentiment
Report Sentiment: 62% Bearish
Technical Forecast:
Overview

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 chart for DBK.DE
Volatility

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.

Price Action

Even with a strong opening DeutscheBank closed below the prior day's open and close, forming a bearish Engulfing Candle.

Support/Resistance

Prices are trading close to a key support level at 11.39.

Trend

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.

Order Flow

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.

Conclusion

Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only slightly bearish while our quantitative statistics show a bearish sentiment.

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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