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PSM.DE breaks below 50-day moving average


Technical Analysis Report for PSM.DE - May 17, 2018 [1 min read]
Highlights
PSM.DE crashes, loses €2.00 (-6.81%) within a single day
PSM.DE breaks below 50-day moving average
PSM.DE finds buyers at key support level
PSM.DE closes lower for the 2nd day in a row
PSM.DE breaks below previous session low
TQ Sentiment
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, PSM.DE finished Thursday at 27.36 tanking €2.00 (-6.81%) on high volume. This is the biggest single day loss in over a week. Today's closing price of 27.36 marks the lowest close since March 23rd. Closing below Wednesday's low at 29.34, the market confirms its breakout through the prior session's low having traded €2.71 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for PSM.DE
Volatility

Thursday's trading range was €1.20 (4.33%), that's far above last trading month's daily average range of €0.63. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.

Support/Resistance

After trading as low as 26.63 during the day, Pro7Sat1 bounced off the key support level at 27.15. 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 28.18.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. The share broke below the 50-day moving average at 28.76 today for the first time since May 9th.

Order Flow

With prices trading close to this year's low at 26.50, downside momentum could accelerate should the stock 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 bullish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bearish Break through SMA 50 TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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