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Varta share: buy signal beckons, but something has to happen! – chart analysis

The “post-corona crash recovery” recently stopped at EUR 97.65 for the Varta share, which was achieved on May 27. The subsequent consolidation in the chart resulted in a sideways movement between EUR 90.40 and the high, which could currently be broken upwards. In today’s trading, Varta’s share price climbs to € 97.95 and is currently trading at € 97.15 – noticeably below the daily high, but still within the resistance zone around the previous recovery stop.

The problem for the Varta share: this top is not the only nearby resistance that needs to be overcome. In fact, the hurdle zone extends between 97.20 / 97.65 euros and the older obstacle directly above it by 98.30 / 98.40 euros – and this has not yet been tested. Only a rise above both chart technical obstacles sets the buy signal for Varta’s share price, which should then direct the focus towards 102 euros. At this point lies the lower end of the broad downward gap from the downward movement that shaped the picture in early 2020. The upper gap limit can only be found at 117.20 euros.

Important technical chart data for the Varta share:

Last share price: 97.15 euros (stock exchange: XETRA – Frankfurt)
Bollinger Bands 20 (below / above): 77.26 euros / 103.07 euros
EMA 20: 90.17 euros
EMA 50: 82.74 euros
EMA 200: 78.06 euros

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