SIE.DE breaks below 100-day moving average


Siemens Aktiengesellschaft (SIE.DE) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
SIE.DE breaks key support level
SIE.DE dominated by bears dragging the market lower throughout the day
SIE.DE breaks below 100-day moving average
SIE.DE ends the day on a bearish note closing near the low of the day
SIE.DE breaks below previous session low
TQ Sentiment
Report Sentiment: 83% Bearish
Technical Forecast:
Overview

SIE.DE ended the week -1.43% lower at 110.54 after losing €1.82 (-1.62%) today. Today's closing price of 110.54 marks the lowest close since May 8th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 111.40, Siemens confirms its breakout through the prior session's low having traded €1.08 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for SIE.DE
Volatility

Friday's trading range was €1.56 (1.4%), that's slightly below last trading month's daily average range of €1.71. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.

Support/Resistance

Breaking below the key support level at 111.28 today, it is now likely to act as resistance going forward.

Trend

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already. The stock broke below the 100-day moving average at 112.10 today for the first time since August 8th.

Conclusion

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

Market Conditions for Siemens Aktiengesellschaft
Condition Forecast Direction Win Avg Worst Best Events
Southern Doji TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Doji TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Bullish Harami Cross Pattern TQ Pro Members Only
More market conditions identified for TQ Pro members...
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