PSM.DE fails to close above 50-day moving average


ProSiebenSat.1 Media SE (PSM.DE) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
PSM.DE breaks below 100-day moving average
PSM.DE fails to close above 50-day moving average
PSM.DE closes lower for the 3rd day in a row
PSM.DE breaks below previous session low
PSM.DE falls to lowest close since April 5th
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, PSM.DE ended Monday at 28.70 losing €0.44 (-1.51%). Today's closing price of 28.70 marks the lowest close since April 5th. Closing below Friday's low at 29.13, the share confirms its breakout through the prior session's low having traded €0.66 below it intraday.

Daily chart for PSM.DE
Volatility

Monday's trading range was €0.83 (2.85%), that's far above last trading month's daily average range of €0.56. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average.

Support/Resistance

After spiking up to 29.30 during the day, the stock found resistance at the 50-day moving average at 29.27.

Trend

Pro7Sat1 shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The market broke below the 100-day moving average at 29.00 today for the first time since March 6th.

Conclusion

Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only slightly bearish while our quantitative statistics show a bearish sentiment.

Market Conditions for ProSiebenSat.1 Media SE
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Bounce off SMA 20 TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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