TKA.DE closes above its opening price after recovering from early selling pressure


ThyssenKrupp AG (TKA.DE) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
Traders officially love to buy TKA.DE around 23.23 level
TKA.DE closes above its opening price after recovering from early selling pressure
TKA.DE finds buyers at key support level
TKA.DE unable to break through key resistance level
TKA.DE finds support at 200-day moving average
TQ Sentiment
Report Sentiment: 44% Bullish
Technical Forecast:
Overview

TKA.DE finished Thursday at 23.69 losing €0.09 (-0.38%). Trading up to €0.39 lower after the open, ThyssenKrupp managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for TKA.DE
Volatility

Thursday's trading range was €0.55 (2.33%), that's slightly below last trading month's daily average range of €0.61. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 23.12 and 23.90 which it has been in now for the last trading week.

Support/Resistance

After trading as low as 23.23 during the day, the share bounced off the key support level at 23.26. The failure to close below the support could increase that levels importance as support going forward. Unable to break through the key technical resistance level at 23.71, the market closed below it after spiking as high as 23.78 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. The stock was bought again around 23.23 after having seen lows at 23.30, 23.26 and 23.29 in the last three trading sessions. Obviously there is something going on at that level. After trading as low as 23.23 during the day, TKA.DE found support at the 200-day moving average at 23.37.

Trend

Although still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

Buying could accelerate should prices move above the nearby swing high at 23.90 where further buy stops might get triggered.

Conclusion

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

Market Conditions for ThyssenKrupp AG
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
52 Week Low TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
Bullish Hikkake Pattern TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Latest Report:

TKA.DE closes within prior day's range

Aug 17, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when ThyssenKrupp AG traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
ETHUSD 299.414.99 1.69%
BTCUSD 6,500.1790.59 1.41%
HSI 27,598.02384.61 1.41%
NATGAS 2.9440.033 1.13%
GOLD 1,191.810.8 0.91%
CAC 5,344.93-4.09 -0.08%
DAX 12,210.55-26.62 -0.22%
NKY 22,199.00-71.38 -0.32%
USDJPY 110.50-0.40 -0.36%
DXY 95.980-0.555 -0.57%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.81 0.59
0.60%
ACN 10 day candlestick chart for ACN164.89 2.00
1.23%
ADBE 10 day candlestick chart for ADBE245.70 -3.19
-1.28%
AAP 10 day candlestick chart for AAP159.72 0.23
0.14%
AES 10 day candlestick chart for AES13.94 0.07
0.50%
AET 10 day candlestick chart for AET198.86 0.39
0.20%
AFL 10 day candlestick chart for AFL46.76 0.26
0.56%
AMG 10 day candlestick chart for AMG146.59 0.30
0.21%
A 10 day candlestick chart for A64.66 -0.84
-1.28%
ABT 10 day candlestick chart for ABT64.72 0.56
0.87%