TKA.DE closes below its opening price unable to hold early session gains
ThyssenKrupp AG (TKA.DE) Technical Analysis Report for Sep 14, 2018
TKA.DE ended the week 0.53% higher at 18.96 after edging higher €0.03 (0.16%) today. Trading €0.23 higher after the open, ThyssenKrupp was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was €0.41 (2.16%), that's slightly above last trading month's daily average range of €0.37. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way below average.
Prices are trading close to the key resistance level at 19.26.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying might accelerate should prices move above the nearby swing high at 19.45 where further buy stops could get activated. Selling might speed up should prices move below the close-by swing low at 18.75 where further sell stops could get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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