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SIE.DE unable to break through key resistance level


Technical Analysis Report for SIE.DE - Apr 16, 2018 [< 1 min read]
Highlights
SIE.DE unable to break through key resistance level
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
Technical Forecast:
Overview

SIE.DE finished Monday at 104.20 losing €0.66 (-0.63%). Closing below Friday's low at 104.70, the market confirms its breakout through the prior session's low having traded €0.66 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

Monday's trading range was €1.12 (1.07%), that's far below last trading month's daily average range of €1.81. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Unable to break through the key technical resistance level at 105.10, Siemens closed below it after spiking as high as 105.16 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.

Trend

Though the share is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Buying could accelerate should prices move above the nearby swing high at 106.00 where further buy stops might get activated. Selling could speed up should prices move below the close-by swing low at 103.28 where further sell stops might get triggered.

Conclusion

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

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bounced off Technical Resistance R1 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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