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DAX® – Lower price gap moves onto the agenda

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Lower price gap moves on the agenda

After the strong start to the week, the DAX® has been on the spot ever since. Outward signs of this development are the last three trading days, the fluctuation ranges of which remained within the counterparts on Monday. In total there are three inner bars in a row. So it remains with the technical guide rails discussed in the last few days. In the short term, a spurt above Monday’s high at 12,873 points would dissolve the “triple” inner bar upwards and thus pave the way towards the 13,000 mark. The superordinate motto still applies: “Two gaps – two messages – two alternative courses of action”! In other words: To the north, closing the downward price gap from September 21 (12,999 to 13,116 points) is necessary to negate the trailing edge from the beginning of the previous week. This exemption would u. E. Lay the foundation for a successful 4th quarter. On the downside, however, the most recent upward gap (12,623 to 12,660 points) plays a key role. A slide below this zone would cause the constructive development in the course of the week to date to be a major blow. The DAX® is likely to carry out the stress test of this holding zone at the start of trading.

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DAX® (Daily)

Chart DAX®

Source: Refinitiv, tradesignal

Something is happening: focus on downward trend!

The previous record high (EUR 129.90) for Henkel shares came from June 2017. Since then, investors have had to endure a long period of drought. But now investors should watch the development of the paper closely. Finally, the stock puts the bearish trend of the past three years (currently at EUR 88.51) up for discussion. Previously, the Ichimoku chart had already made the jump over the cloud, from which the ongoing tide change can (already) be recognized. A sustained trend break would also have the charm that the share price development since 2017 can then be interpreted as a long-drawn correction flag. The trend-following indicators are currently providing a tailwind in terms of “liberation”. While the MACD and the Relative Strength (Levy) are to be interpreted in a friendly manner, there is even a “V-shaped” reversal in the course of the last-mentioned indicator. The highs at around EUR 96 – underpinned by the 50% correction of the overall bear market impulse from 2017 to 2020 (EUR 96.07) – then define the next start-up target. In the future, in the event of an outbreak, there will even be three-digit quotations. In order not to gamble away the good starting position, the latest “swing low” at EUR 86.10 should not be undercut in future.

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Henkel Vz. (Weekly)

Chart Henkel Vz.

Source: Refinitiv, tradesignal

With seasonal tailwind to new highs?

Last year we accompanied the stabilization and the subsequent upward trend of Activision shares with a whole series of constructive analyzes – most recently in “HSBC Daily Trading” on June 12th. The paper is currently in an exciting and promising starting position again. First of all, the basic trend is still upwards, as evidenced, for example, by increasing smoothing lines or a relative strength above the threshold value of 1. At the same time, since the beginning of August, the paper has repeatedly tried a sustained spurt above the old all-time high of 2018 at USD 84.68. In this orbit, the game manufacturer is possibly developing a flag consolidation. The share is currently also attractive from a seasonal point of view, because based on data since the beginning of the millennium, the share can gain an average of over 8% from the beginning of October to the beginning of November. If the seasonal tailwind described is used for a sustainable outbreak, then another procyclical entry signal arises, especially since the sliding zone of the last three and a half years would then also be resolved upwards (see chart).

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Activision Blizzard (Weekly)

Chart Activision Blizzard

Source: Refinitiv, tradesignal

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