SIE.DE finds buyers at key support level
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.
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.
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.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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.
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|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|
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