HEN3.DE climbs to highest close since June 15th
Henkel AG & Co. KGaA (HEN3.DE) Technical Analysis Report for Jul 13, 2018
Moving higher for the 2nd day in a row, HEN3.DE finished the week 1.2% higher at 110.00 after gaining €1.15 (1.06%) today. Today's closing price of 110.00 marks the highest close since June 15th. Closing above Thursday's high at 109.00, the market confirms its breakout through the prior session's high having traded €1.65 above it intraday.
Friday's trading range was €1.60 (1.46%), that's slightly below last trading month's daily average range of €1.77. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
After trading as low as 109.05 during the day, the share bounced off the key support level at 109.35. The failure to close below the support could increase that levels importance as support going forward. After spiking up to 110.65 during the day, Henkel found resistance at the 200-day moving average at 110.42.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Further buying might move prices higher should the market test June's close-by high at 111.15.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.