ING Shares Plunge 3.32% to €24.48 Amid Bearish Technical Signals and 6.17% Four-Day Slide

ING Groep shares declined 3.32% to €24.48 in the most recent session, marking the fourth consecutive daily loss and bringing the cumulative decline to 6.17% over this period. The technical landscape reveals a confluence of bearish signals across multiple indicators, suggesting potential near-term downside continuation.
Candlestick Theory
Recent sessions show a cluster of bearish candles with long upper wicks near €25.50, confirming this zone as formidable resistance. The breakdown below €25.00 triggered stop-losses, accelerating the decline. A decisive close below the psychological €24.00 level would validate bearish momentum, while recovery above €25.00 is now critical for bulls.
Moving Average Theory
The 50-day MA (€23.98) crossed below the 100-day MA (€24.25) last week, confirming a mid-term bearish shift. With the price trading below the declining 200-day MA (€24.70), a full bearish alignment exists. The widening gap between the 50-day and 200-day MAs suggests strengthening downtrend momentum.
MACD & KDJ Indicators
MACD lines remain below the zero line with histogram bars extending negatively, confirming bearish dominance. KDJ shows the %K line (25) crossing below %D (32) in oversold territory, suggesting continued downside pressure. Both oscillators display no divergence from price, validating the current bearish trajectory.
Bollinger Bands
Volatility expansion is evident as price breaches the lower band (€24.15), typically an exhaustion signal. However, bands are widening rather than contracting, indicating sustained directional momentum. Any rebound should face resistance at the middle band (€24.65), which aligns with the 50-day MA.
Volume-Price Relationship
Distribution patterns emerged during the four-day decline, with notably higher volume (4.85M shares) on the latest sell-off versus preceding up days. This volume confirmation on breakdowns signals strong conviction behind the bearish move, while absent volume support during recovery attempts underscores buyer apathy.
Relative Strength Index (RSI)
At 28.5, the RSI approaches oversold territory but shows no bullish divergence. Historically, ING's RSI has remained below 30 for extended periods during sustained downtrends. While technically oversold, the lack of reversal signals suggests continued vulnerability to further downside.
Fibonacci Retracement
Using the €27.15 high (mid-July) and €22.71 low (early August), the 61.8% retracement (€25.30) capped the September rally and now acts as resistance. The recent breakdown below the 38.2% level (€24.65) opens a path toward the 23.6% support (€23.35), with the €22.71 trough as the ultimate downside target.
Confluence & Divergence
Confluence appears at €25.30, where Fibonacci resistance, the 100-day MA, and prior price consolidation converge. Significant bearish alignment exists between volume confirmation, moving average positioning, and oscillator signals. A notable divergence occurs with Bollinger Bands flagging potential exhaustion while other momentum indicators show no reversal signs, creating a conflict that typically resolves through consolidation before directional continuation.
The weight of evidence favors sustained bearish control, with €23.35-€23.98 representing the next material support zone. Reclaiming €24.65 remains essential for bulls to regain technical footing, though current momentum makes this improbable without significant catalysts.