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Daimler: share in trouble and truck division announces major order

Daimler announces a new major order from Brazil that will go to the truck division of the vehicle manufacturer. “Mercedes-Benz do Brasil has received an order for 100 heavy trucks from Transportadora Contatto, a Brazilian transport company. The Mercedes-Benz Actros should be delivered by December 2020, ”announced the DAX-listed company on Tuesday.

Daimler does not provide information on the order value.

Daimler’s share price is currently struggling with a technical hurdle. Most recently, the automotive title had climbed to EUR 41.78, but was unable to stabilize below the important hurdle zone below EUR 41.49. Since Friday, the Daimler share has been floating in a narrow trading range below the core resistance zone, which has shifted to EUR 41.49 / 41.78.

If there is still no breakout above this important hurdle area, the Daimler share is threatened with significant profit-taking. The first strong chart support is found in a wider zone at and below 38.11 / 38.40 euros. A slide below this could tip the trend down after Daimler’s share price had recovered from EUR 21.015 to EUR 41.78 in mid-March. The DAX value at EUR 40.155 is currently almost unchanged at the XETRA closing price on the previous day.

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