DAX : Close to its annual highs
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 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 decline, it would take a period of time below the three moving averages, including the "fifty" days, to return to a more negative pattern.
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