VNA.DE finds buyers again around 38.94
Vonovia SE (VNA.DE) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team
VNA.DE ended Thursday at 39.15 gaining €0.15 (0.38%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.
Daily Candlestick Chart (VNA.DE as at May 17, 2018):
Thursday's trading range was €0.27 (0.69%), that's far below last trading month's daily average range of €0.60. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
Prices are trading close to a key support level at 38.80. After having been unable to move lower than 38.89 in the prior session, the market found buyers again around the same price level today at 38.94.
Vonovia shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.
Buying might speed up should prices move above the close-by swing high at 39.76 where further buy stops could get activated. Selling might accelerate should prices move below the nearby swing low at 38.89 where further sell stops could get triggered.