Not even a week until Wirecard’s balance sheet for 2019 is finally available – which should create some clarity. And now, of all times, the Wirecard share is at risk from the technical point of view of the chart, which is also due to the weak tendency of the overall market on the Frankfurt Stock Exchange. Yesterday, the DAX value slid down from the short-term upward trend, but kept this brand close on the closing price basis. The daily low was quoted at EUR 89.84 and the XETRA closing price at EUR 90.90. Current indications on Friday morning, however, point slightly down and are quoted at EUR 89.80 / 90.30, which does not exactly mitigate the technical situation for Wirecards shares.
However, the fintech title still has support nearby that was not in danger yesterday. The daily low of Monday at 88.78 euros is worth mentioning here. Together with the focus on zone 89.84 / 89.93 euros, this forms the technical support, which is currently important for the further trend in Wirecards share price. A slide below triggers new sales signals that could increase nervousness a few days before the group’s balance sheet on June 18, 2020. But the tug of war of the bullish forces with the short sellers is not over yet. On balance, the current development has not yet brought about any changes in the technical scenarios for Wirecard shares. Here are the conclusions from yesterday’s 4investors chartcheck on Wirecard shares:
A slide below the zone between 88.78 euros and 89.84 / 89.93 euros, here the EMA 20 is currently also at 89.30 euros, would worsen the short-term technical trend picture for Wirecard’s share price. In the scenario, the next smaller support zone in the course of the course would be found at 87.02 / 87.59 euros. But be careful, if the DAX-listed fintech title is now building downward momentum: Then, as already outlined above, it can quickly move towards 79.68 / 80.08 euros or even to the “Corona / KPMG crash low” at 72.00 Euros go down.
As long as this dynamic does not occur, another quick change of direction upwards remains a technical option for Wirecards shares – it would not be atypical for the title. The short-term uptrend channel is still intact, with a lower limit just below the current level of indications. A ricochet opens up new opportunities for relaxation. It remains with yesterday’s technical chart conclusion for the bullish scenario: The upper end of the short-term uptrend channel can currently be found in the resistance zone at EUR 101.60 / 102.20, further chart technical hurdles at EUR 106.55 / 107.85 and above to the EMA 200 at 114.45 euros would be potential further price targets in the event of a break – depending on the development of the upward momentum.
Important technical data on the Wirecard share:
Last share price: 90.90 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”. In the end, attempts to create such buy signals failed several times.
Bollinger Bands 20 (below / above): 77.93 euros / 100.67 euros
EMA 20: 89.30 euros
EMA 50: 97.16 euros
EMA 200: 114.21 euros