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DEAG share: found ground after the corona crash? – Chart analysis

It was February 20 when the corona crash started for DEAG shares. In the wake of the bear market, the share price of the Berlin entertainment company fell from EUR 6.38 to EUR 2.70. But a look at the last few weeks shows that stabilization seems to be taking place. After the paper had fallen to 2.70 euros, a broad support line built up at 2.70 / 2.90 euros, from which it went up to 3.78 euros. Although the DEAG share subsequently lost all ground again, a possible upward turn was initiated on Tuesday with an intraday comeback after a slide to 2.80 euros. In trading on Wednesday, the share price was able to expand this and go out of trading at 3.00 euros at the daily high.

The core zone of the technical chart support area could be at 2.70 / 2.80 euros, which has played a key role in shaping the DEAG share since the corona crash. Opponents on the other hand are the zone between 3.75 / 3.84 euros and 3.89 / 3.92 euros, which represents a massive barrier to the top. At this mark, DEAG’s share price rebounded twice after the Corona crash. A breakout above this would be a clear end to the crash scenario with a double bottom formation and could therefore trigger high price potential.

While the 2.70 / 2.90 euro area represents the most important support zone for the DEAG share, intermediate hurdles would have to be overcome on the way up towards 3.75 / 3.84 euros and 3.89 / 3.92 euros. The first brands can be found between 3.05 / 3.08 euros, thus on the 20-day line, and at 3.10 / 3.18 euros. The 50-day line is currently also at 3.20 euros. Buy signals on these brands could become important impulses for DEAG’s share price in the short term.

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