HOT.DE pops to highest close since August 15, 2018


Hochtief (HOT.DE) Technical Analysis Report for Mar 15, 2019 | by Techniquant Editorial Team

Highlights

HOT.DE rises to highest close since August 15, 2018
HOT.DE closes higher for the 3rd day in a row
HOT.DE pushes through Thursday's high

Overview

Moving higher for the 3rd day in a row, HOT.DE finished the week 2.58% higher at 143.20 after gaining €1.40 (0.99%) today on high volume, slightly outperforming the MDAX (0.5%). Today's close at 143.20 marks the highest recorded closing price since August 15, 2018. Closing above Thursday's high at 141.80, Hochtief confirmed its breakout through the prior session high after trading up to €2.90 above it intraday.

Daily Candlestick Chart (HOT.DE as at Mar 15, 2019):

Daily technical analysis candlestick chart for Hochtief (HOT.DE) as at Mar 15, 2019

Friday's trading range has been €3.60 (2.55%), that's far above the last trading month's daily average range of €2.42. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for HOT.DE.

One bullish candlestick pattern matches today's price action, the White Candle.

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

Among the four market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "3 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for Hochtief. Out of 158 times, HOT.DE closed higher 56.33% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 58.23% with an average market move of 1.04%.


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