DAX

DAX
Delayed Frankfurt - 10/22 05:45:00 pm
12754.69EUR
+0.05%

Close to its annual highs

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09/24/2019 | 10:20 am
Opinion : Check out the trading range breakout 12050 / 12630 
German stocks remain close to their annual highs. Investors are always attentive to the evolution of trade negotiations between the United States and China, which have a direct impact on German equities, which are largely export-oriented. Over the last month, the DAX gained more than 6%, driven by accommodating central bank interventions. The components that benefit most from this index flight are called Covestro, the chemist, with 15.6%. Daimler, for its part, is surfing on the rebound of the automotive sector by accumulating more than 13% of growth. Also on the performance podium, Infineon, with a 12.8% profit over the sliding month. Graphically, in daily data, prices return to the highs of 2019. The approximation of the 20-day moving average could support the index over the next few sessions. A further acceleration would therefore bring the index to around 12630 points, the target of the Shoulder-T’s-T’s-T’s-Reverse Shoulder, established in August. To notify a price downgrade, it would take a period of time below the three moving averages, including the "fifty" days, to return to a more negative pattern.
Patrick Rejaunier
Zonebourse.com 2019
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