FRE.DE closes within previous day's range after lackluster session


Fresenius SE & Co. KGaA (FRE.DE) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
FRE.DE fails to close above 100-day moving average
FRE.DE ends the day on a bearish note closing near the low of the day
FRE.DE finds buyers again around 63.72
FRE.DE closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

FRE.DE ended Monday at 63.90 losing €0.16 (-0.25%). Closing within the previous day's range, prices failed to decisively move past the prior 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 FRE.DE
Volatility

Monday's trading range was €0.92 (1.43%), that's below last trading month's daily average range of €1.31. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.

Price Action

Despite a strong opening the market closed below the previous day's open and close, forming a bearish Engulfing Candle.

Support/Resistance

Prices are trading close to a key support level at 63.26. Prices are trading close to the key resistance level at 64.86. After having been unable to move lower than 63.60 in the prior session, the share found buyers again around the same price level today at 63.72. After spiking up to 64.64 during the day, Fresenius found resistance at the 100-day moving average at 64.41.

Trend

The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Order Flow

Buying might speed up should prices move above the nearby swing high at 64.86 where further buy 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 bullish.

Market Conditions for Fresenius SE & Co. KGaA
ConditionForecastDirectionWinAvgWorstBestEvents
RSI(2) above 80 TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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