RWE.DE pushes through 50-day moving average


RWE AG (RWE.DE) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
RWE.DE pushes through 50-day moving average
RWE.DE unable to break through key resistance level
RWE.DE finds buyers again around 19.97
RWE.DE closes within previous day's range
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

RWE.DE finished Thursday at 20.16 gaining €0.19 (0.95%). Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.

Daily chart for RWE.DE
Volatility

Thursday's trading range was €0.36 (1.8%), that's slightly 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 slightly above average.

Price Action

After moving lower in the prior session, the stock managed to close higher but below the previous day's open, forming a bullish Harami Candle.

Support/Resistance

Unable to break through the key technical resistance level at 20.18, the share closed below it after spiking as high as 20.33 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move lower than 19.91 in the prior session, the market found buyers again around the same price level today at 19.97.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. RWE managed to break above the 50-day moving average at 20.07 today for the first time since March 5th.

Order Flow

Buying could accelerate should prices move above the nearby swing high at 20.38 where further buy stops might get activated.

Conclusion

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

Market Conditions for RWE AG
Condition Forecast Direction Win Avg Worst Best Events
Bearish Outside Bar TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Black Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

RWE.DE finds buyers again around 20.83

Aug 17, 2018
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