VOW3.DE closes higher for the 2nd day in a row

Volkswagen AG (VOW3.DE) Technical Analysis Report for Jul 13, 2018

Highlights

VOW3.DE runs into sellers around 144.56 for the third day in a row
VOW3.DE closes above its opening price after recovering from early selling pressure
VOW3.DE closes higher for the 2nd day in a row
VOW3.DE stuck within tight trading range
VOW3.DE closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment:
25% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, VOW3.DE finished the week -2.53% lower at 144.00 after gaining €1.10 (0.77%) today on low volume. Trading up to €0.96 lower after the open, Volkswagen managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for VOW3.DE

Volatility

Friday's trading range was €1.88 (1.31%), that's far below last trading month's daily average range of €3.67. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 141.92 and 144.56 which it has been in now for the last three days.

Support/Resistance

Prices are trading close to a key support level at 141.92. The share ran into sellers again today around 144.56 for the third trading day in a row after having found sellers at 144.22 in the previous session and at 144.18 two days ago.

Trend

Although VW is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Selling might speed up should prices move below the close-by swing low at 141.92 where further sell stops could get activated. With prices trading close to this year's low at 138.60, downside momentum might accelerate should the market break out to new lows for the year.

Conclusion

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

Market Conditions for Volkswagen AG

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