EOAN.DE breaks key support level


E.ON SE (EOAN.DE) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
EOAN.DE breaks key support level
EOAN.DE closes lower for the 5th day in a row
EOAN.DE finds buyers again around 9.56
EOAN.DE falls to lowest close since July 3rd
EOAN.DE closes within previous day's range
TQ Sentiment
Report Sentiment: 28% Bullish
Technical Forecast:
Overview

Moving lower for the 5th day in a row, EOAN.DE ended the week -3.32% lower at 9.60 after losing €0.08 (-0.83%) today on low volume. Today's closing price of 9.60 marks the lowest close since July 3rd. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.

Daily chart for EOAN.DE
Volatility

Friday's trading range was €0.17 (1.75%), that's slightly below last trading month's daily average range of €0.18. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 9.50. Breaking below the key support level at 9.67 today, it is now likely to act as resistance going forward. After having been unable to move lower than 9.54 in the previous session, the share found buyers again around the same price level today at 9.56.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Selling might accelerate should prices move below the nearby swing low at 9.54 where further sell stops could get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for E.ON SE
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Intraday Reversal TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Bearish High-Wave Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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