The fear of a second wave of COVID-19 pandemics is putting the Lufthansa share under pressure. Despite the federal government’s travel warning for Spain, the airline will continue to fly to Spanish destinations with Lufthansa and Eurowings planes – including the holiday hotspot Mallorca. But that is currently fizzling out with the Lufthansa share price, as is the agreement of the group on savings measures with flight attendants. Current indications for the Lufthansa share are quoted in Tradegate trading on Monday morning at 8.35 / 8.50 euros and thus again noticeably below the closing price in XETRA trading on Friday.
In terms of charts, the new corona worry lines among investors hit a situation shortly after the Lufthansa share gave an anti-cyclical chart-technical sell signal. An attempt to break at the strong technical resistance level between EUR 9.14 / EUR 9.22 and EUR 9.32 / EUR 9.40 failed with a crash. From here, the share price of the MDAX-listed company fell from 9.22 euros to 8.408 euros, which it reached on Friday. The long candle fuse that formed in the Lufthansa share’s candlestick chart on Friday is now at risk as a possible stabilization zone.
All in all, the technical chart support zone around 8.41 / 8.59 euros for the Lufthansa share remains a possible technical key brand. If this support zone remains intact, the next step in the Lufthansa chart could build up new, then stronger pressure on the hurdles between EUR 9.14 / 9.22 and EUR 9.32 / 9.40. A rise back above Friday’s high at EUR 8.71 and the technical chart hurdle directly above it at EUR 8.74 / EUR 8.89 could be the starting signal for a new attempt.
However, the risks cannot currently be overlooked. New sell signals could push the Lufthansa share into the region at the 8 euro mark and lower. The wide zone of the potential floor after the corona crash then begins at 7.53 / 7.68 euros, the core support is 7.02 / 7.22 euros.