TKA.DE breaks below prior session low
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.
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.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
Market Conditions for ThyssenKrupp AG
|Southern Doji||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Doji||TQ Pro Members Only|
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