LHA.DE closes higher for the 2nd day in a row
Deutsche Lufthansa AG (LHA.DE) Technical Analysis Report for Jul 13, 2018
Moving higher for the 2nd day in a row, LHA.DE finished the week 1.39% higher at 20.39 after gaining €0.26 (1.29%) today. Closing above Thursday's high at 20.27, the market confirms its breakout through the prior session's high having traded €0.38 above it intraday.
Friday's trading range was €0.45 (2.23%), that's slightly below last trading month's daily average range of €0.53. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
Unable to break through the key technical resistance level at 20.62, the share closed below it after spiking as high as 20.65 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying might speed up should prices move above the nearby swing high at 20.94 where further buy stops could get activated. Selling might accelerate should prices move below the close-by swing low at 19.90 where further sell stops could get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.