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SIE.DE finds buyers at key support level


Technical Analysis Report for SIE.DE - May 17, 2018 [< 1 min read]
Highlights
SIE.DE finds buyers at key support level
SIE.DE closes higher for the 3rd day in a row
SIE.DE ends the day on a bullish note closing near the high of the day
SIE.DE finds buyers again around 116.38
SIE.DE pushes through previous session high
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, SIE.DE ended Thursday at 117.56 gaining €0.58 (0.5%). Today's closing price of 117.56 marks the highest close since January 31st. Closing above Wednesday's high at 117.42, the market confirms its breakout through the previous session's high having traded €0.24 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for SIE.DE
Volatility

Thursday's trading range was €1.28 (1.1%), that's slightly below last trading month's daily average range of €1.42. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way above average.

Support/Resistance

After trading as low as 116.38 during the day, the share bounced off the key support level at 116.54. The failure to close below the support could increase that levels importance as support going forward. After having been unable to move lower than 116.38 in the prior session, Siemens found buyers again around the same price level today at 116.38.

Trend

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

Conclusion

Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only bullish while our quantitative statistics show a very bullish sentiment.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Bounced off Technical Support S1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Low close to previous low TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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