Siltronic – trend limitation is having an effect
The environmental debate has picked up speed again across Europe, and Germany too would like to become more involved in this area. Wafer manufacturer stocks have recently been left behind, but have benefited significantly from the ambitions of Europeans in recent days, as in the example of Siltronic can be seen.
The share peaked at 109.10 euros at the end of February, but came under the wheels in the wake of the Corona crisis and marked the preliminary low this year at 46.56 euros. Since then, the value has recovered, but fluctuates roughly on the average of this year’s trading range. However, a bottom is emerging in the area of 70.00 euros, which would certainly have the potential for a return to the overarching downward trend. Perhaps in the medium term this could even result in a buy signal. Both short and medium-term oriented investors get their money’s worth.
Many hurdles ahead
Siltronic is not necessarily one of the outperformers on the stock exchange, but there are also promising trading approaches here. If the level of around 80.00 euros is successfully overcome, an increase to the current monthly highs at 83.84 euros could be started. Above that, the overall downward trend is already at 85.00 euros. This would at least be the short-term trading variant, medium-term signals only come about when the price is at least EUR 88.00. In this case it could Siltronic return to their medium-term hurdle around 94.00 euros, above that even a test of the June highs at 101.35 euros would be conceivable. All prices below the current monthly lows, on the other hand, should lead to discounts to 60.55 euros and close the price gap in this area that opened at the end of March.
- Resistances: 78.29; 80.00; 80.89; 83.84; 85.00; 86.60 euros
- Supports: 74.84; 72.16; 71.20; 70.01; 68.98; 64.66 euros
Siltronic in euros in the daily chart; 1 candle = 1 day (logical candle chart display)
Observation period: 07.01.2020 – 29.09.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de/underlying/DE000WAF3001
Siltronic in Euro in the weekly chart; 1 candle = 1 week (logical candle chart display)
Observation period: 28.09.2015 – 29.09.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de/underlying/DE000WAF3001
You can find products based on Siltronic shares and other underlying assets at www.onemarkets.de
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This information does not constitute investment advice, but advertising. The public offer is made exclusively on the basis of a securities prospectus approved by the Federal Financial Supervisory Authority (“BaFin”). Approval of the prospectus is not to be understood as a recommendation to purchase these UniCredit Bank AG securities. Only the prospectus including any supplements is relevant and the Final Terms. It is recommended that you read these documents carefully before making any investment decision in order to fully understand the potential risks and rewards of investing. You are about to acquire a product that is not easy and can be difficult to understand.
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The article Siltronic – Trend Limitation is having an effect first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).
