LHA.DE bounces off lows recouping most intraday losses


Deutsche Lufthansa AG (LHA.DE) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
LHA.DE bounces off lows recouping most intraday losses
LHA.DE closes above its opening price after recovering from early selling pressure
LHA.DE finds buyers at key support level
LHA.DE fails to close above 20-day moving average
LHA.DE closes within previous day's range
TQ Sentiment
Technical Forecast:
Overview

LHA.DE ended Thursday at 23.84 edging lower €0.01 (-0.04%) on high volume. Trading up to €0.45 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for LHA.DE
Volatility

Thursday's trading range was €0.67 (2.82%), that's slightly above last trading month's daily average range of €0.61. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. Although trading as low as 23.30 during the day, the market has decisively rejected those price levels and formed a bullish Pin Bar closing €0.54 above today's low.

Support/Resistance

After trading as low as 23.30 during the day, the share bounced off the key support level at 23.69. The failure to close below the support might increase that levels importance as support going forward. Prices are trading close to the key resistance level at 24.23. After spiking up to 23.97 during the day, Lufthansa found resistance at the 20-day moving average at 23.93.

Trend

Though LHA.DE is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Buying might accelerate should prices move above the close-by swing high at 24.17 where further buy stops could get activated.

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 Deutsche Lufthansa AG
ConditionForecastDirectionWinAvgWorstBestEvents
Close to R1 Resistance TQ Pro Members Only
4 Consecutive Lower Closes TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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