Markets

Daily outlook for 9.9 .: DAX undecided. Focus on BMW, Nikola and Tesla!

The European stock markets gave up most of yesterday’s gains today. Above all, the weakness of US tech stocks is currently proving to be a drag and is putting pressure on the buying mood on both sides of the Atlantic. The DAX® today lost almost 0.8 percent to 13,000 points and the EuroStoxx®50 1.2 percent to 3.275 points.

There were some major fluctuations in the bond market today. At the close of trading, the yield on 10-year Bunds fell to -0.496 percent. The yield for comparable US papers fell around three points to 0.667 percent in the first few hours of trading. The picture was quite different for the precious metals. Gold remained stable above $ 1,920. Silver, on the other hand, oscillated between $ 26 and $ 27. The oil price came under heavy pressure. The price of a barrel of Brent fell six percent to $ 39.40. The trigger was fear of persistently weak demand.

Company in focus

The German postal service showed a bullish engulfing today and thus stabilized above the support level of EUR 37.40. Is there a rebound towards the all-time high? HeidelbergCement benefited from positive analyst comments. The automaker BMW, Daimler and VW Thanks to good sales figures in China, they bucked the trend today. DB Cargo has a major order for freight locomotives Siemens forgive. Nevertheless, the share fell slightly and tested the support level at EUR 115.40. Aviation stocks like Airbus, Deutsche Lufthansa and MTU Aero Engines were among the bigger losers again today. The background is speculation that Lufthansa the fleet may be reduced more than initially planned. Nikola stepped on the gas after General Motors joined the company. The share of the electric car manufacturer Tesla opened after completion of the capital increase double-digit in the red. In addition, not being included in the S&P 500 index depresses sentiment.

tomorrow will Dermapharm Publish figures for the past fiscal quarter.

Important appointments

  • China – consumer prices

Chart technical outlook

Resistance marks: 13,100 / 13,150 / 13,300 / 13,440 points

Support marks: 12,600 / 12,740 / 12,850 / 12,900 points

The DAX® got off to a weak start to the day and provided support in the area of ​​12,850 points. In the late afternoon the index was able to contain the daily losses again and settled in the area of ​​13,000 points. If the breakout above this level succeeds, the index has room from a technical point of view to 13,100 / 13,150 points. There is currently no impetus for more. On the downside, the index has formed a broad support zone between 12,600 and 12,850.

DAX® in points; 1-hour chart (1 candle = 1 hour)

Observation period: 25.08.2020 – 08.09.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de

DAX® in points; Weekly chart (1 candle = 1 week)

Observation period: 09.09.2013 – 08.09.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de

Inline warrants on the DAX®

Underlying WKN Sales price in euros Lower knock-out barrier in Pt. Upper knock-out barrier in pt. Final Valuation day
DAX® HR03FZ 5.66 11,600 14,000 October 15, 2020
DAX® HR03G7 6.86 12,000 14,800 October 15, 2020

Source: HypoVereinsbank onemarkets; As of: 09/08/2020; 5:33 pm

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The daily outlook for 9.9 .: DAX undecided. Focus on BMW, Nikola and Tesla! first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).

Author: Richard Pfadenhauer

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