The good news in advance: On Monday morning the indications for the S&T share are stable. After the last few days were turbulent for the TecDAX stock and, following allegations and a short recommendation from a British analyst firm, were marked by a massive price loss, calm could return – at least until the next attack, if it comes. Large details of the short EPM recommendation are still unknown – unusual if you compare this with the developments in other stocks such as Northern Bitcoin or, most recently, Grenke. The attack fell on fertile ground in a situation of the S&T share that was already troubled by the charts.
S&T itself made it clear last week that the forecast for 2020 could be reached or exceeded. The Austrian IT group is aiming for a turnover of around 1.15 billion euros. The EBITDA is expected to be 115 million euros. That would be an increase of 3 percent compared to the figures for 2019. By 2023, S&T wants to achieve sales of EUR 2 billion or EUR 220 million EBITDA. On the market you have the statement as well as positive analyst statements on the S&T share disregarded for now, S & T’s share price fell anyway.
In the meantime, an interesting trading range has emerged in the chart of the TecDAX stock after the price crash. While the overall downtrend is intact and has not only existed since last week, a clear support zone has emerged around 16.44 / 16.68 euros. Two out of three of the last trading days ended with long matches for the daily candles in the candlestick chart. The daily lows: 16.48 euros and 16.68 euros. A slide below this could cause the TecDAX value to fall towards the Corona crash low at EUR 13.20. The first technical support would be expected at around 15.34 / 15.44 euros.
In the chart of the S&T share, the first resistance is possible at 17.92 / 18.09 euros. A buy signal at this point could be enough to initiate a more pronounced countermovement after the significant downward movement of the past few days (and weeks, at the beginning of August the S&T share price was EUR 25.72!). Further obstacles would be expected at 18.78 / 19.19 euros and at the 20 euros mark.