So far, the Wirecard share has not yet been able to recover significantly from the price slump, which was brought in on Friday by news of a search of the company’s business premises from Aschheim near Munich. The trigger was BaFin with a criminal complaint, the investigation is directed against the people on the board of Wirecard AG. The result was renewed excitement right up to the theories that are now commonplace about new angular features of shortsellers. After a XETRA closing price of EUR 95.88 (+0.24 percent), the Wirecard share in Tradegate trading fell sharply. Current indications of EUR 88.41 / EUR 88.50 on Monday morning remain at a similar price level – another one will change that soothing statement from Wirecard on the search nothing to reaffirm the forecasts and confirm once again that the balance sheet for 2019 should be presented on June 18.
Technically, this could mean the beginning of further losses for the Wirecard share. Two failed attempts to break out on the EMA 50 and the chart technical resistance area just below it at 94.33 / 95.76 euros are currently weighing on the situation in addition to the news. In addition, there is now a risk of falling below the 89.93 / 90.72 euro range, which has been the lower end of the trading range for Wirecard shares in recent days – and thus a sell signal. However, further support would already be available at EUR 87.02 / 87.59. If there are additional buy signals, Wirecard’s share price could also build downward momentum again in the direction of 79.68 / 80.08 euros or even to the “Corona / KPMG crash low” at 72.00 euros. Conversely, if there is a breakout over the chart technical obstacles between 94.33 / 95.78 euros and 97.00 / 97.66 euros, there is still the chance to test hurdles around 101.60 / 102.20 euros and above.
In the meantime, Wirecard is gradually releasing the anchor shareholders. So it turned out Artisan Partners with the Artisan Global Equity Fund in May from the participation in Wirecard completely adopted. In the previous months, the investor’s stake, which had been invested in Wirecard for years, had been gradually reduced and had already fallen below the 3 percent threshold at the end of April, meaning that no further notification requirements for further sales by Artisan had to be observed. Artisan Partners explains the sale among other things with uncertainties at the company after the unclear outcome of the previous investigations by KPMG. However, Wirecard’s stock looks cheap, Artisan said, and electronic payments remains a long-term investment issue.
Important technical data on the Wirecard share:
Last share price: 95.88 euros (stock exchange: XETRA – Frankfurt)
Downward trend since September 2018, short-term volatile strong movements in both directions, slide below the technical support in the range of around 80 euros could only have been a bear trap, but the trend reversal fantasies arising from this require further technical buy signals to become “real”.
Bollinger Bands 20 (below / above): 77.48 euros / 98.22 euros
EMA 20: 87.85 euros
EMA 50: 97.70 euros
EMA 200: 115.03 euros