For today: PP=3.466
Resistance: R1=3.537
Support: S1=3.421; S2=3.391; S3=3.349; S4=3.277
The st-support zone is ~3.30-3.32 (formed Dec-Jan)
As you know, diff d-trading strategies usually dominate the first hours... They could roughly be divided over 3 main/large groups.
Though, the 'kpn'-stock has quite a lot of "scalpers" hunting just a few cts.-profit at (very) "tight stops" and large number of trades, there are also quiet enough short/long "trend-followers" (with just a bit diff "stops" structure) ready to "support" any st/d-trend (which is easy to impose by just a bit bigger parties) providing a bit higher profit for much less trades.
At highly negative market sentiment - take a look at 'aex' (overall sentiment) and d-trending since ~9.30 today, one couldn't expect anything different for kpn. Actually the same d-trending for 'kpn' that dropped for ~3% since ~9.30 till ~10.10 at high "positive d/st-correlations" with 'aex'.
Taking into account the structure, objectives & goals of d/st-trading strategies, as well as "st/d-stops" structures, don't forget that there are still just a bit bigger parties that have capacity to impose a "necessary d-trend".... just to optimize their own returns. Don't also forget that the 0.36 Eur div (announced just too early) automatically creates (almost) risk-free opportunities (arbitrage trading) for very active parties in current circumstances (lt/mt/st/d-downtrending markets - downtrends on all horizons, except just "strategic" one) to get a bit higher profit (indeed, at stock priced ~3.6 the div provides ~10%, while at stock ~3.3 the div-return is just a bit higher, isn't it?).
To get it a bit more clear on the that writing above, take a look at p/v/t- distributions (just gives some quant description of the above mentioned strategies):
- within ~09.30 - 10.10 around ~2.95 M were sold out (incl. "shorts" & "stops")
- within ~10.10 - 10.40 around ~3.05 M were "traded back" (closing shorts + new buys) with much high partial volume ~ 1 M per 10 min (!) at much lower price and low volatility (with prof trading in "big blocks" ~100 K - 250 K )
- within ~11.00 - ~14.00 --> "smooth trading" (standard partial volume ~0.2 M per 10 min, and low price volatility)
- since ~14.00 --> "positive correlations" between rising prices and partial volume.
So, business as usual....., just prof "return optimization"....
PS. Take care. Markets are begging for extra QEs in Europe..., and "NO" rising rates in the US any more this year (read last week post)