VOW3.DE closes higher for the 3rd day in a row


Volkswagen AG (VOW3.DE) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
VOW3.DE pushes through key resistance level
VOW3.DE dominated by bulls lifting the market higher throughout the day
VOW3.DE pushes through 200-day moving average
VOW3.DE closes higher for the 3rd day in a row
VOW3.DE ends the day on a bullish note closing near the high of the day
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, VOW3.DE finished Thursday at 163.34 gaining €3.56 (2.23%). Today's closing price of 163.34 marks the highest close since May 30th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 161.10, the share confirms its breakout through the prior session's high having traded €3.20 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for VOW3.DE
Volatility

Thursday's trading range was €6.22 (3.92%), that's far above last trading month's daily average range of €3.42. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Price Action

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar. In spite of a weak opening the stock managed to close above the previous day's open and close, forming a bullish Engulfing Candle.

Support/Resistance

Breaking through the key resistance level at 161.44 today, it is now likely to act as support going forward. Prices are trading close to the key resistance level at 164.78.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already. VW managed to break above the 200-day moving average at 161.29 today for the first time since October 4, 2017.

Order Flow

Trading close to April's low at 157.72 we might see further downside momentum if potential sell stops at the level get activated.

Conclusion

While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being very bearish.

Market Conditions for Volkswagen AG
ConditionForecastDirectionWinAvgWorstBestEvents
3 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Takuri Line TQ Pro Members Only
Gap Down TQ Pro Members Only
Close below the lower Bollinger Band TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

VOW3.DE ends the day indecisive

Jun 19, 2018
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