RAA.DE closes higher for the 3rd day in a row

Rational AG (RAA.DE) Technical Analysis Report for Feb 13, 2019 | by Techniquant Editorial Team


RAA.DE rises to highest close since October 18, 2018
RAA.DE unable to break through key resistance level
RAA.DE closes higher for the 3rd day in a row


Moving higher for the 3rd day in a row, RAA.DE ended Wednesday at 592.00 gaining €11.50 (1.98%). Today's close at 592.00 marks the highest recorded closing price since October 18, 2018.

Daily Candlestick Chart (RAA.DE as at Feb 13, 2019):

Daily technical analysis candlestick chart for Rational AG (RAA.DE) as at Feb 13, 2019

Wednesday's trading range has been €15.50 (2.65%), that's slightly below the last trading month's daily average range of €17.10. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for RAA.DE.

Unable to break through the key technical resistance level at 595.00 (R1), the share closed below it after spiking up to 599.50 earlier during the day. The failure to close above the resistance could increase that levels importance going forward. When prices bounced off a significant resistance level the last time on January 28th, RAA.DE lost -1.93% on the following trading day.

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Among the three market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "RSI(2) above 80" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for Rational AG. Out of 302 times, RAA.DE closed higher 58.61% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 58.28% with an average market move of 0.97%.

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