RKET.DE finds buyers again around 24.60
RKET.DE finished Thursday at 24.72 flat. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Thursday's trading range was €0.20 (0.81%), that's far below last trading month's daily average range of €0.59. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.
In spite of a strong opening the share closed below the previous day's open and close, forming a bearish Engulfing Candle.
Prices are trading close to a key support level at 24.46. Prices are trading close to the key resistance level at 24.92. After having been unable to move lower than 24.64 in the prior session, the market found buyers again around the same price level today at 24.60. After spiking up to 24.80 during the day, the stock found resistance at the 50-day moving average at 24.78.
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 close-by swing high at 25.08 where further buy stops could get triggered. As prices are trading close to May's high at 25.10, upside momentum might accelerate should Rocket Internet mark new highs for the month.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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