RWE.DE ends the day indecisive


RWE AG (RWE.DE) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
RWE.DE closes higher for the 2nd day in a row
RWE.DE pushes through previous session high
RWE.DE stuck within tight trading range
RWE.DE ends the day indecisive
TQ Sentiment
Report Sentiment: 20% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, RWE.DE finished the week -1.9% lower at 21.64 after gaining €0.04 (0.19%) today. Closing above Thursday's high at 21.60, the market confirms its breakout through the prior session's high having traded €0.15 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for RWE.DE
Volatility

Friday's trading range was €0.28 (1.29%), that's far below last trading month's daily average range of €0.45. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 21.29 and 21.84 which it has been in now for the last three days.

Trend

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

Order Flow

Selling could speed up should prices move below the nearby swing low at 21.29 where further sell stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for RWE AG
ConditionForecastDirectionWinAvgWorstBestEvents
RSI(2) above 80 TQ Pro Members Only
Bullish Spinning Top TQ Pro Members Only
RSI(14) above 70 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bullish High-Wave Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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