RWE.DE ends the day indecisive
RWE AG (RWE.DE) Technical Analysis Report for Jul 13, 2018
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.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling could speed up should prices move below the nearby swing low at 21.29 where further sell stops might get triggered.
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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