LHA.DE pushes through 50-day moving average
Deutsche Lufthansa AG (LHA.DE) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
LHA.DE finished Monday at 26.91 gaining €0.42 (1.59%) on low volume. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.
Daily Candlestick Chart (LHA.DE as at Apr 16, 2018):
Monday's trading range was €0.57 (2.15%), that's below last trading month's daily average range of €0.76. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
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. After moving lower in the previous session, the share managed to close higher but below the prior day's open, forming a bullish Harami Candle.
Prices are trading close to a key support level at 26.33. Prices are trading close to the key resistance level at 27.33.
Although the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory. The market managed to break above the 50-day moving average at 26.71 today for the first time since April 12th.
Buying could accelerate should prices move above the nearby swing high at 27.32 where further buy stops might get activated. Further buying could move prices higher should the market test March's close-by high at 27.95.