RKET.DE dominated by bears dragging the market lower throughout the day


Rocket Internet SE (RKET.DE) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
RKET.DE dominated by bears dragging the market lower throughout the day
RKET.DE ends the day on a bearish note closing near the low of the day
RKET.DE closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

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.

Daily chart for RKET.DE
Volatility

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.

Price Action

Even with a strong opening Rocket Internet closed below the prior day's open and close, forming a bearish Engulfing Candle.

Support/Resistance

Prices are trading close to the key resistance level at 29.98.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying might speed up should prices move above the nearby swing high at 29.98 where further buy stops could get triggered.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bearish sentiment for the next trading day.

Market Conditions for Rocket Internet SE
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
52 Week High TQ Pro Members Only
Last Engulfing Bottom Pattern TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

RKET.DE breaks key support level

Jul 20, 2018
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