LIN.DE finds buyers again around 164.60


Linde AG (LIN.DE) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
LIN.DE finds buyers again around 164.60
LIN.DE still stuck within tight trading range
LIN.DE closes within previous day's range after lackluster session
LIN.DE ends the day indecisive
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

LIN.DE ended Monday at 165.00 flat. Closing within the prior day's range, prices failed to decisively move past the previous 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 LIN.DE
Volatility

Monday's trading range was €2.05 (1.24%), that's far below last trading month's daily average range of €4.02. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 163.50 and 169.55 which it has been in now for the last trading week.

Support/Resistance

Prices are trading close to a key support level at 164.30. After having been unable to move lower than 164.65 in the prior session, the market found buyers again around the same price level today at 164.60.

Trend

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.

Order Flow

Selling could speed up should prices move below the close-by swing low at 163.50 where further sell stops might get activated. With prices trading close to this year's low at 159.70, downside momentum could accelerate should the share break out to new lows for the year.

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 Linde AG
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Bounce off SMA 50 TQ Pro Members Only
Rickshaw-Man TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
High close to previous High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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