DTE.DE rises to highest close since May 17th


Deutsche Telekom AG (DTE.DE) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
DTE.DE pushes through key resistance level
DTE.DE runs into sellers around 13.88 for the third day in a row
DTE.DE dominated by bulls lifting the market higher throughout the day
DTE.DE pushes through 100-day moving average
DTE.DE ends the day on a bullish note closing near the high of the day
TQ Sentiment
Report Sentiment: 62% Bullish
Technical Forecast:
Overview

DTE.DE ended Thursday at 13.85 gaining €0.23 (1.69%). Today's closing price of 13.85 marks the highest close since May 17th. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for DTE.DE
Volatility

Thursday's trading range was €0.36 (2.65%), that's far above last trading month's daily average range of €0.20. Weekly volatility is also higher, being above the markets average with the monthly volatility being below average.

Price Action

In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar.

Support/Resistance

Breaking through the key resistance level at 13.72 today, it is now likely to act as support going forward. Telekom ran into sellers again today around 13.88 for the third trading day in a row after having found sellers at 13.86 in the prior session and at 13.84 two days ago.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already. The share managed to break above the 100-day moving average at 13.62 today for the first time since June 12th.

Conclusion

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

Market Conditions for Deutsche Telekom AG
Condition Forecast Direction Win Avg Worst Best Events
Southern Doji TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Doji TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
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