VOW3.DE breaks below prior session low
Volkswagen AG (VOW3.DE) Technical Analysis Report for Apr 16, 2018
VOW3.DE ended Monday at 172.14 tanking €5.14 (-2.9%). This is the biggest single day loss in over two months. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 174.38, the stock confirms its breakout through the prior session's low having traded €2.76 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Monday's trading range was €6.98 (3.92%), that's far above last trading month's daily average range of €4.30. Weekly volatility is also higher, being above the markets average with the monthly volatility being way above average.
Prices are trading close to a key support level at 168.96.
VW shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bearish sentiment for the next trading day.
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