GLOBAL X DAX GERMANY ETF (DAX) Stock Technical Analysis
NASDAQ:DAX - Nasdaq - US37954Y4917 - ETF - Currency: USD
We assign a technical rating of 9 out of 10 to DAX. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
Looking at the yearly performance, DAX did better than 86% of all other stocks. On top of that, DAX also shows a nice and consistent pattern of rising prices.
DAX is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so DAX is performing more or less in line with the market.
In the last month DAX has a been trading in a tight range between 42.95 and 45.22.
Besides having an excellent technical rating, DAX also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 43.25, a Stop Loss order could be placed below this zone.
More info and screens
32.49
45.22
4 important support areas can be observed.
- A support zone ranging from 43.13 to 43.25. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @38.46 from a trend line in the weekly time frame.
- A support zone ranging from 35.71 to 36.30. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 32.82 to 32.82. This zone is formed by a combination of multiple trend lines in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 43.94 to 44.77. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for DAX is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for DAX is neutral. |
| ChartMill Relative Strength | 86.29 | POSITIVE | DAX has a high relative strength, it outperformed 86.29% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of DAX is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of DAX is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of DAX is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 47.29 | NEUTRAL | The RSI value for DAX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.28 | NEGATIVE | The MACD value suggests DAX has a negative trend. |
| Stochastics (14,3) | 4.94 | OVERSOLD | The low Stochastics value suggests DAX may be oversold. |
| Average True Range in percent/ATR (20) | 1.46 | LOW VOLATILITY | The low ATR as a percentage value for DAX suggests low volalility. |
| Average Directional Index/ADX (14) | 18.73 | NEGATIVE | The low ADX value for DAX suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 43.95 | 43.12 | 0.83 (1.88%) | 25.00% |
| An entry @43.95. This is a Buy Stop order right above the 10 day moving average. | An exit @43.12. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.83 points, which is 1.88%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.47%. |
- The distance between exit and entry is rather small compared to the average daily movement of DAX. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
43.26
+0.12 (+0.28%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg0.28%
1 Week-2.61%
2 Weeks-3.35%
1 Month-1.27%
3 Month7.69%
6 Month28.44%
12 Month33.85%
2 Year46.1%
3 Year86.39%
5 Year65.85%
10 Year63.37%
15 YearN/A
Volatility
ATR(14)0.61
ATR(20)%1.46%
ATR Inc-2.89%
Range Today0.37
ADR(20)0.5
ADR(20)%1.16%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS86.29
Mansfield1.48
10 Day High45.02
10 Day Low43.05
20 Day High45.22
20 Day Low42.95
52 Week High45.22
52 Week Low30.52
CS1 End43.25
CR1 Start43.94
Volume & EV
DER(3)0.74%
DER(5)2.11%
Volume104.00K
Volume Incr-19.45%
Vol(5)153.32K
Vol(50)179.07K