FRE.DE soars 2.34% closing €1.58 higher


Fresenius SE & Co. KGaA (FRE.DE) Technical Analysis Report for May 17, 2018 [1 min read]
Highlights
FRE.DE rallies 2.34% closing €1.58 higher
FRE.DE pushes through key resistance level
FRE.DE dominated by bulls lifting the market higher throughout the day
FRE.DE closes higher for the 4th day in a row
FRE.DE ends the day on a bullish note closing near the high of the day
TQ Sentiment
Report Sentiment: 71% Bullish
Technical Forecast:
Overview

Moving higher for the 4th day in a row, FRE.DE ended Thursday at 69.08 surging €1.58 (2.34%). This is the biggest single day gain in over two weeks. Today's closing price of 69.08 marks the highest close since January 31st. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 68.00, Fresenius confirms its breakout through the previous session's high having traded €1.08 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for FRE.DE
Volatility

Thursday's trading range was €1.70 (2.51%), that's above last trading month's daily average range of €1.30. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Breaking through the key resistance level at 68.24 today, it is now likely to act as support going forward.

Trend

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

Order Flow

With prices trading close to this year's high at 70.78, upside momentum could speed up should the share be able to break out to new highs for the year.

Conclusion

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

Market Conditions for Fresenius SE & Co. KGaA
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Bounce off SMA 50 TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close below the lower Bollinger Band TQ Pro Members Only
More market conditions identified for TQ Pro members...
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