EOAN.DE closes higher for the 3rd day in a row


E.ON SE (EOAN.DE) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
EOAN.DE unable to break through key resistance level
EOAN.DE closes higher for the 3rd day in a row
EOAN.DE finds buyers again around 8.96
EOAN.DE rises to highest close since April 6th
EOAN.DE closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, EOAN.DE ended Monday at 9.00 edging higher €0.01 (0.11%) on low volume. Today's closing price of 9.00 marks the highest close since April 6th. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for EOAN.DE
Volatility

Monday's trading range was €0.06 (0.67%), that's far below last trading month's daily average range of €0.18. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.

Support/Resistance

Unable to break through the key technical resistance level at 9.01, the stock closed below it after spiking as high as 9.02 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move lower than 8.96 in the previous session, the share found buyers again around the same price level today at 8.96.

Trend

E. ON shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Order Flow

Buying could accelerate should prices move above the nearby swing high at 9.04 where further buy stops might get triggered. As prices are trading close to April's high at 9.17, upside momentum could speed up should the market mark new highs for the month.

Conclusion

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

Market Conditions for E.ON SE
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
White Candle TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Short Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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