Markets

Weekly outlook: DAX loses momentum. Lufthansa and ThyssenKrupp strong!

The majority of yields on the bond market rose somewhat in a weekly comparison. The yield on 10-year German government bonds rose to minus 0.44 percent and the yield on comparable US securities stood at 0.67 percent. Gold remained little changed compared to the previous week. Silver was able to distance itself from the $ 17 mark. Palladium, however, dipped below the $ 2,000 mark. The oil price has fluctuated within a narrow range in the past few days. The OPEC + meeting is scheduled for the end of next week. There may be new impulses in advance.

Focus on companies

In the past few days, the recently badly scolded DAX® shares of Deutsche Bank, Deutsche Lufthansa, MTU Aero Engines and Wirecard. At Lufthansa, the prospect of state aid stimulated. However, the stock lost a significant amount at the end of the week when it became known that further negotiations were needed. In the MDAX®, seven stocks posted double-digit growth on a weekly basis. The shares of CTS Eventim, Fraport and ThyssenKrupp. The prospect of a radical corporate restructuring continued to inspire the industrial group. However, it was not enough to raise the share price beyond the April high.

Deutsche Wohnen, HeidelbergCement, LPKF and SMA Solar invite you to the virtual general meeting next week.

Important appointments

  • China – Caixin PMI
  • Germany – Markit Purchasing Managers’ Index
  • Germany – labor market data
  • Germany – VDMA, incoming orders
  • Germany – order intake industry
  • Europe – Euro zone retail sales
  • USA – ISM Industry Purchasing Managers Index
  • USA – ADP Labor Market Report
  • USA – Industry orders
  • USA – trade balance
  • USA – Initial jobless claims

Chart technical outlook

Resistance marks: 11,740 / 11,800 / 12,280 points

Support marks: 11.160 / 11.220 / 11.270 / 11.420 / 11.640 points

The DAX® was not yet able to sustainably break the 11,800 point mark. Rather, at the end of the week there was consolidation up to cross support at 11,640 points. If the index falls below this level, there is a risk of a reset of up to 11,420 points and further up to 11,220 points. If, on the other hand, the breakout exceeds 11,800 points, there is a chance that the upward movement will continue up to 11,280 points.

DAX® in points; 4-hour chart (1 candle = 4 hours)

Observation period: April 28, 2020 – March 29.05.2020. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de

DAX® in points; Weekly chart (1 candle = 1 week)

Observation period: May 30, 2014 – May 29, 2020. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de

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