TUI.L drops to lowest close ever

TUI AG (TUI.L) Technical Analysis Report for Feb 13, 2019 | by Techniquant Editorial Team


TUI.L falls to lowest close ever
TUI.L dominated by bears dragging the market lower throughout the day
TUI.L closes lower for the 2nd day in a row
TUI.L ends the day on a bearish note closing near the low of the day


Moving lower for the 2nd day in a row, TUI.L ended Wednesday at 830.80 losing £56.00 (-6.31%), strongly underperforming the FTSE 100 (0.81%). Today's close at 830.80 marks the lowest recorded closing price ever. The bears were in full control today, moving the market lower throughout the whole session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (TUI.L as at Feb 13, 2019):

Daily technical analysis candlestick chart for TUI AG (TUI.L) as at Feb 13, 2019

Wednesday's trading range has been £37.60 (4.37%), that's slightly below the last trading month's daily average range of £40.01. Things look different on the weekly timeframe, where the market's trading range of the last week has been way above the market's average weekly trading range. The longer-term, monthly volatility is currently significantly higher than usual for TUI.L.

One bearish candlestick pattern matches today's price action, the Black Candle.

With another close below the lower Bollinger Band, prices are confirming their strong downward momentum in the short-term. A rally back into the Bollinger Band on the next trading day although might signal a potential change in momentum that could lead to a correction back up towards the center of the Bollinger Bands at 1116.09.

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

Among the eight market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close below the lower Bollinger Band" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for TUI. Out of 55 times, TUI.L closed higher 56.36% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 50.91% with an average market move of 1.14%.

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