DPW.DE stuck within tight trading range
Deutsche Post AG (DPW.DE) Technical Analysis Report for May 17, 2018
DPW.DE finished Thursday at 34.20 losing €0.09 (-0.26%). Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.
Thursday's trading range was €0.31 (0.91%), that's below last trading month's daily average range of €0.53. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 33.87 and 34.47 which it has been in now for the last three days.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.
Prices are trading close to a key support level at 33.87. Prices are trading close to the key resistance level at 34.47.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying might speed up should prices move above the nearby swing high at 34.47 where further buy stops could get triggered. Selling might accelerate should prices move below the close-by swing low at 33.87 where further sell stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.