TKA.DE snaps to lowest close since June 28th

ThyssenKrupp AG (TKA.DE) Technical Analysis Report for Jul 13, 2018

Highlights

TKA.DE finds buyers around 20.60 for the third day in a row
TKA.DE ends the day on a bearish note closing near the low of the day
TKA.DE breaks below previous session low
TKA.DE falls to lowest close since June 28th

TQ Sentiment

Report Sentiment:
60% Bearish
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

TKA.DE finished the week -6.32% lower at 20.62 after losing €0.28 (-1.34%) today. Today's closing price of 20.62 marks the lowest close since June 28th. Closing below Thursday's low at 20.70, ThyssenKrupp confirms its breakout through the prior session's low having traded €0.10 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 TKA.DE

Volatility

Friday's trading range was €0.58 (2.76%), that's slightly below last trading month's daily average range of €0.66. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bearish Outside Bar.

Support/Resistance

The market found buyers again today around 20.60 for the third trading day in a row after having found demand at 20.70 in the previous session and at 20.62 two days ago.

Trend

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

Order Flow

With prices trading close to this year's low at 19.88, downside momentum might accelerate should the share break out to new lows for the year. As prices are trading close to July's low at 20.23, downside momentum could speed up should the stock mark new lows for the month.

Conclusion

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

Market Conditions for ThyssenKrupp AG

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TKA.DE breaks below previous session low

Sep 24, 2018
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