BASF share: new buy signal ahead? – Chart analysis

Strong start to the week for the BASF share: Based on the closing price, the chemical stock in XETRA trading on the Frankfurt Stock Exchange rose 4.31 percent to EUR 51.70 on Monday, the daily high was EUR 51.86. In terms of the chart, the BASF share price was not only able to break away from the two sliding 20- and 50-day lines, but also set its sights on a resistance level at EUR 51.80 / EUR 52.00. However, this was not overcome in XETRA trading.

A jump above this mark, which the BASF share tried on August 12, could target important technical chart hurdles between EUR 54.24 / 54.59 and EUR 55.27 / 55.50. Further buy signals from these brands bring the previous “post-corona high” at EUR 58.40 into focus. If, on the other hand, the breakout above the currently attacked resistance level does not succeed, there is a risk of another setback in the direction of EUR 46.59 / EUR 47.74. Smaller intermediate supports would be available for 48.49 / 49.11 euros.

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