DBK.DE closes within prior day's range after lackluster session
Deutsche Bank AG (DBK.DE) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
DBK.DE ended Thursday at 11.02 gaining €0.04 (0.36%). Trading up to €0.08 lower after the open, DeutscheBank managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. 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 May 17, 2018):
Thursday's trading range was €0.20 (1.82%), that's below last trading month's daily average range of €0.30. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.
After moving lower in the prior session, the stock managed to close higher but below the previous day's open, forming a bullish Harami Candle.
After having been unable to move lower than 10.92 in the prior session, the share found buyers again around the same price level today at 10.91.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
With prices trading close to this year's low at 10.82, downside momentum could speed up should the market break out to new lows for the year.