Review: Siemens shares have clearly recovered from the low of March 18 at EUR 58.77 in recent weeks. In a first counterattack by the bulls, the paper raised up to EUR 86.69, but failed again with a further increase due to the important 50s EMA. There was a brief reset to EUR 76.78 on April 21. This was followed by a further increase, with the 50 EMA being breached by a gap-up on May 8th and this breakthrough was subsequently confirmed. On the previous day, the Siemens securities went out of business at EUR 94.33 with a premium of 1.60%, the daily high reached EUR 94.79. As a result, the shares are only just below the 200 EMA, which is important as a signal for the long-term course.
Outlook: The short-term upward trend for Siemens stocks is clearly intact. However, the 200 EMA could not yet be recaptured. As long as the stocks are listed below the 200 EMA, a new downward wave is still possible.
The long scenarios: Siemens shares can build on the gains of the previous day and directly attack the 200 EMA at EUR 95.80. If the bulls make a breakthrough here, the situation for the shares would brighten. The first target would be the EUR 100 mark. The upper limit of the long-term downward trend runs in this area. Only if there was a sustained breakthrough out of the downtrend channel would the bulls be cleared.
The short scenarios: The stocks fail with a break above the resistance area at EUR 95.80 / 100.00 and remain in their long-term downward trend. As a result, after the long run-up, the next downward wave begins, which first leads the title to the 50 EMA at EUR 85.80. Below that, it would go lower to support at EUR 77.00, followed by the lower limit of the falling trend channel at EUR 70.00.
Disclaimer: The text is a column of the UBS. The content of the column is not the responsibility of 4investors and therefore does not necessarily have to agree with the opinion of the 4investors editorial team. Any liability and claims are therefore expressly excluded by 4investors!
At a glance – chart and news: Siemens