EOAN.DE ends the day on a bearish note closing near the low of the day

E.ON SE (EOAN.DE) Technical Analysis Report for Sep 14, 2018

Highlights

EOAN.DE dominated by bears dragging the market lower throughout the day
EOAN.DE ends the day on a bearish note closing near the low of the day
EOAN.DE finds buyers again around 8.76
EOAN.DE falls to lowest close since March 9th
EOAN.DE closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

EOAN.DE finished the week -0.9% lower at 8.78 after losing €0.04 (-0.45%) today. Today's closing price of 8.78 marks the lowest close since March 9th. The bears were in full control today, moving the market lower throughout the whole session. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for EOAN.DE

Volatility

Friday's trading range was €0.10 (1.13%), that's below last trading month's daily average range of €0.14. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being above average.

Price Action

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.

Support/Resistance

Prices are trading close to a key support level at 8.75. After having been unable to move lower than 8.74 in the previous session, the market found buyers again around the same price level today at 8.76.

Trend

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

Order Flow

Selling might accelerate should prices move below the close-by swing low at 8.72 where further sell stops could get activated.

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

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