The Infineon share could have made a major chart breakthrough yesterday. A chart-technical resistance area between 23.065 euros, the top before the corona crash, and the July high at 23.60 euros was overcome by the DAX-listed stock in trading on Wednesday. In XETRA trading on the Frankfurt Stock Exchange, Infineon’s share price rose to 23.87 euros and was only 2 cents below it from the trading day – an increase of more than 4 percent on the previous day. The price rally, which started after the Corona crash on March 19 at 10.13 euros, is about to continue.
The immediate prerequisite for this, however, is that the Infineon share can confirm and expand the buy signal, which is still narrow, in the next few days. The upper Bollinger band is currently a bit behind and is quoted at 23.429 euros below yesterday’s prices, but with a clear upward trend again. In the upward movement that could potentially follow when the buy signal is confirmed, the Bollinger Band could become an orientation mark. A slide back below the daily high of the Infineon share yesterday at 22.81 euros could mean a sell signal and thus a bull trap. The support zone ranges between 22.81 euros and 23.06 / 23.21 euros and is also a potential pullback target. In the case of Infineon shares, there is a really big buy signal, but the bear counterattack could still come.
Important technical data on the Infineon share:
Last share price: 23.850 euros (exchange: XETRA – Frankfurt)
Bollinger Bands 20 (bottom / top): 20.870 euros / 23.429 euros
EMA 20: 22,150 euros
EMA 50: 21.605 euros
EMA 200: 19.603 euros
At a glance – chart and news: Infineon