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Varta share: nerve game for investors – chart analysis

Yesterday, the Varta share could not escape the consolidation in the tech sector. If the battery’s share price had reached a new all-time high at EUR 138.70 in the morning, the stock plunged to EUR 116.70 within the next day and went out of trading at EUR 121.30. Current indications for Varta’s share price on Friday morning are 122.20 / 122.90 euros and show that the recovery from yesterday’s setback is continuing – only slightly, but it is on the up.

After the rally of the Varta share from the Corona crash low at 50.50 euros to the new all-time high reached yesterday, a consolidation phase is on the one hand not surprising. Some investors may have been astonished by the vehemence with which the price fell yesterday. Interesting: The sales were high, but there have also been days with significantly higher sales for the paper. Here, moderate willingness to sell met extremely reluctant buyers. Only much later was Varta’s share price able to stabilize in the area of ​​smaller supports above 115 euros.

With yesterday’s price development, the 115.00 / 116.70 euro area will become a stronger and, above all, important short-term support brand for the Varta share. In the event of a break, further support would not be far below that at 108.80 / 110.40 euros. However, if the recovery tendency, which became apparent in the pre-trading phase, persists, a quick return to the still intact overall upward trend would not be surprising – it was similar after the last sharp correction in the Varta share in mid-August.

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