DPW.DE ends the day on a bullish note closing near the high of the day
Deutsche Post AG (DPW.DE) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, DPW.DE ended Thursday at 30.36 gaining €0.76 (2.57%). The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 29.69, the share confirms its breakout through the previous session's high having traded €0.71 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (DPW.DE as at Jun 14, 2018):
Thursday's trading range was €1.05 (3.58%), that's above last trading month's daily average range of €0.66. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.
Despite a weak opening the market managed to close above the prior day's open and close, forming a bullish Engulfing Candle.
DeutschePost found buyers again today around 29.35 for the third trading day in a row after having found demand at 29.22 in the previous session and at 29.36 two days ago.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.