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HEN3.DE ends the day indecisive


Technical Analysis Report for HEN3.DE - Apr 16, 2018 [1 min read]
Highlights
HEN3.DE closes above its opening price after recovering from early selling pressure
HEN3.DE finds buyers again around 102.85
HEN3.DE closes within previous day's range after lackluster session
HEN3.DE ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

HEN3.DE ended Monday at 103.20 edging higher €0.10 (0.1%) on low volume. Trading up to €0.30 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for HEN3.DE
Volatility

Monday's trading range was €0.75 (0.73%), that's far below last trading month's daily average range of €1.74. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.

Price Action

After moving lower in the previous session, Henkel managed to close higher but below the prior day's open, forming a bullish Harami Candle.

Support/Resistance

Prices are trading close to a key support level at 102.20. Prices are trading close to the key resistance level at 104.10. After having been unable to move lower than 102.90 in the previous session, the stock found buyers again around the same price level today at 102.85.

Trend

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

Order Flow

Buying might speed up should prices move above the nearby swing high at 104.10 where further buy stops could get activated. Selling might accelerate should prices move below the close-by swing low at 102.20 where further sell stops could get triggered. With prices trading close to this year's low at 101.28, downside momentum might speed up should the share break out to new lows for the year. As prices are trading close to April's low at 102.06, downside momentum could accelerate should HEN3.DE mark new lows for the month.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Low close to previous low TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Harami Candle TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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