RKET.DE dominated by bears dragging the market lower throughout the day
Rocket Internet SE (RKET.DE) Technical Analysis Report for Jul 13, 2018
RKET.DE finished the week 3.73% higher at 29.50 after losing €0.12 (-0.41%) today. The bears were in full control today, moving the market lower throughout the whole session. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.
Friday's trading range was €0.42 (1.41%), that's far below last trading month's daily average range of €0.77. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
Even with a strong opening Rocket Internet closed below the prior day's open and close, forming a bearish Engulfing Candle.
Prices are trading close to the key resistance level at 29.98.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might speed up should prices move above the nearby swing high at 29.98 where further buy stops could get triggered.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bearish sentiment for the next trading day.
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