DAX PERFORMANCE-INDEX (.GDAXI) shares edge down

DAX PERFORMANCE-INDEX (.GDAXI) shares edge down

DAX PERFORMANCE-INDEX (.GDAXI) shares edge down

German stocks edged down on Monday, with the benchmark DAX index down 92.15 points, or 0.70 percent, to close at 13,126.99 points.

Material manufacturer Covestro lost 4.80 percent, the top loser among the blue chips, followed by semiconductor manufacturer Infineon Technologies and airlines Lufthansa, which lost 1.69 percent and 1.60 percent, respectively.

Pharmaceutical company Merck gained 1.07 percent, becoming the top gainer. Personal-care company Beiersdorf and chemical and consumer goods company Henkel advanced 0.33 percent and 0.29 percent, respectively.

Chemical group BASF was the most traded share with a turnover of 229.6 million euros (257.0 million U.S. dollars).

Technical Indicators

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 12,937.99.

The projected upper bound is: 13,385.21.

The projected lower bound is: 12,883.94.

The projected closing price is: 13,134.57.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 45.9348. This is not an overbought or oversold reading. The last signal was a sell 9 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 46.61. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 33 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -172.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 8 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 1 period(s) ago.

Rex Takasugi – TD Profile

XETRA DAX PF closed down -92.149 at 13,126.990. Volume was 9% below average (neutral) and Bollinger Bands were 39% narrower than normal.

Open     High      Low     Close     Volume___
13,085.49013,143.11012,948.17013,126.990 71,778,648
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 13,266.00 13,148.13 12,365.64
Volatility: 13 12 17
Volume: 76,431,760 76,921,864 86,335,408

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

XETRA DAX PF is currently 6.2% above its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of .GDAXI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .GDAXI and have had this outlook for the last 3 periods.

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