FRE.DE soars 2.34% closing €1.58 higher
Fresenius SE & Co. KGaA (FRE.DE) Technical Analysis Report for May 17, 2018
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.
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.
Breaking through the key resistance level at 68.24 today, it is now likely to act as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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.
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.
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