2023-09-14 19:13:59
Due to the price upswing since October 2022, the German stock index DAX has increased from 11,863 to 16,529 points. However, the upward momentum has weakened overall since May 2023 and the index has been moving sideways since then with the character of a technical consolidation. This is limited by the support zone from 15,450 to 15,600 and the resistance zone from 16,300. On the one hand, from a technical perspective, there are signs that this consolidation will continue to extend over time in the given trading range.
Since the consolidation has a slightly negative touch, the Dax should receive a “mental” (trading) hedging stop at 15,430 (slightly below the still rising 200-day and support zone) as part of risk management. On the other hand, some standard values are showing (new) technical clouding. Since the resulting relative weakness should generally continue in the coming months, these securities are suitable for exchange operations or for obtaining liquidity. Technical gloom with new annual lows can be found in the DAX stocks MTU (most recently with a profit warning), Qiagen, RWE and Symrise.
#Qiagen #RWE #annual #lows