Baumot share: be careful, the break chances are rapidly disappearing – chart analysis

Last week we drew attention to important technical chart signals that are imminent for the Baumot share. The reason: A renewed attempt by the title to overcome the resistance area between 1.27 euros and 1.30 euros. In June and July two attempts in the “post-corona crash phase” to overcome this zone failed. Now the third attempt also seems to be a hit in the water. Baumot’s share price has been trying its hand at the resistance since Wednesday, on three of the four days – including today’s Monday – there were daily highs within this resistance zone. A break across the area was never achieved.

Instead, Baumot’s share price is currently clearly in the red. The paper is currently trading at € 1,200, close to the daily low, which was reached at € 1.188 – so far. In the morning, the share of the company from Königswinter near Bonn peaked at 1.288 euros. The setback is not the end of the chances of overcoming the 1.27 / 1.30 euro zone. But the clear minus in a bullish stock market environment on Monday and the repeatedly failed break attempt earlier let the chances shrink significantly. Even a slide below Thursday’s low of 1.182 euros could be a clear procyclical sell signal, although further support levels are to be expected around 1.140 / 1.166 euros.

In terms of chart technology, the situation therefore warns more caution. Just as a reminder: The two previous failed attempts by Baumot shares to overcome the hurdle at 1.27 / 1.30 euros ended in Baumot shares falling to 0.95 euros and 0.96 euros.

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