HEI.DE crashes -1.99% closing €1.42 lower


HeidelbergCement AG (HEI.DE) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
HEI.DE tanks -1.99% closing €1.42 lower
HEI.DE dominated by bears dragging the market lower throughout the day
HEI.DE breaks below 20-day moving average
HEI.DE fails to close above 20-day moving average
HEI.DE closes lower for the 2nd day in a row
TQ Sentiment
Report Sentiment: 55% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, HEI.DE ended the week 0.57% higher at 70.10 after tanking €1.42 (-1.99%) today. This is the biggest single day loss in over a month. Today's closing price of 70.10 marks the lowest close since August 3rd. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 71.30, HDCement confirms its breakout through the previous session's low having traded €1.56 below it intraday.

Daily chart for HEI.DE
Volatility

Friday's trading range was €1.40 (1.97%), that's slightly above last trading month's daily average range of €1.29. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 69.20. After spiking up to 71.14 during the day, the market found resistance at the 20-day moving average at 71.13.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. The stock broke below the 20-day moving average at 71.13 today for the first time since August 1st.

Order Flow

Selling could accelerate should prices move below the close-by swing low at 69.20 where further sell stops might get activated. With prices trading close to this year's low at 68.98, downside momentum could speed up should the share break out to new lows for the year.

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 HeidelbergCement AG
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
52 Week Low TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
Black Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

HEI.DE breaks below prior session low

Aug 17, 2018
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