Investors quickly ticked off the weak targets from the USA in the morning and the German ifo index rose again. However, something more was expected. In addition, the number of initial jobless claims rose surprisingly in the USA. That made investors frown again. The DAX® lost almost 0.3 percent to 12,600 points over the course of the day and the EuroStoxx®50 just under 0.7 percent.
The sideways movement of the past few days continued on the bond market. The yield on 10-year Bunds stagnated in the range of -0.51 percent. The yield on 10-year US paper was 0.67 percent. The wave of consolidation in precious metals continued. The precious metal prices fell between 0.4 percent (gold) and 2.6 percent (silver). Meanwhile, oil can maintain the level of the previous days. The quotation for a barrel of Brent Crude Oil continued to hover between $ 41 and $ 42.
Company in focus
Hella posted a loss in the past quarter. The share then gave up almost all of yesterday’s profits. Kloeckner raised the forecast shortly before the end of the quarter. Investors acknowledged this with a price increase. So far, however, there is no sign of a trend reversal. The software company SNP Schneider concluded a partnership with Fujitsu with a volume in the low double-digit million range. Investors reacted with satisfaction and heaved the paper up. Started last Friday VW the delivery of the ID.3 e-car. The ID.4 was presented yesterday and should be delivered from the end of the year. Today the paper went against the trend a little.
- United States – Durable Goods Orders
Chart technical outlook
Resistance marks: 12,750 / 12,900 / 13,050 points
Support marks: 12,200 / 12,300 points
After a gap of 12,520 points at the beginning of trading, the DAX® was able to recover quickly and close the gap. In the afternoon, however, the bears spoke up again and pushed the index down to 12,600 points. The index has now built up a support zone between 12,500 and 12,600 points. As long as it is not significantly undercut, there is a chance of a renewed recovery up to 12,800 points. The bulls currently seem powerless and show little stamina. If the index tips below the support zone, there is a risk of a clear setback to 12,200 points.
DAX® in points; 4-hour chart (1 candle = 4 hours)
Observation period: 07/27/2020 – 09/24/2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de
DAX® in points; Weekly chart (1 candle = 1 week)
Observation period: 25.09.2014 – 24.09.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de
Inline warrants on the DAX®
|Underlying||WKN||Selling price in euros||Lower knock-out barrier in Pt.||Upper knock-out barrier in pt.||Final Valuation day|
|DAX®||HZ22T6||8.43||11,000||13,800||October 15, 2020|
Source: HypoVereinsbank onemarkets; As of: 09/24/2020; 5:54 p.m.
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