TKA.DE breaks below prior session low

ThyssenKrupp AG (TKA.DE) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team


TKA.DE closes lower for the 11th day in a row
TKA.DE breaks below previous session low
TKA.DE falls to lowest close since June 26th


Moving lower for the 11th day in a row, TKA.DE finished the week -6.45% lower at 20.46 after losing €0.63 (-2.99%) today. Today's closing price of 20.46 marks the lowest close since June 26th. Closing below Thursday's low at 20.71, ThyssenKrupp confirms its breakout through the prior session's low having traded €0.44 below it intraday.

Daily Candlestick Chart (TKA.DE as at Aug 10, 2018):

Daily technical analysis candlestick chart for ThyssenKrupp AG (TKA.DE) as at Aug 10, 2018

Friday's trading range was €0.55 (2.64%), that's slightly below last trading month's daily average range of €0.63. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Prices are trading close to a key support level at 20.23. Prices are trading close to the key resistance level at 20.86.

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

With prices trading close to this year's low at 19.88, downside momentum might speed up should the market break out to new lows for the year. Further selling could move prices lower should the market test July's nearby low at 20.23.

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