Strong start to the week for ThyssenKrupp shares: the MDAX-listed company’s share price is currently more than 8 percent up at EUR 4.198. It is noteworthy that the steel and technology share escapes a heavy chart-technical sell signal with the rise – at least initially. On Friday the ThyssenKrupp share price had fallen to EUR 3.818 and was actually noticeably below the support range by EUR 3.95 / 3.98. But the sell signal is not confirmed today, instead the clear rebreak and thus a potential bear trap can be seen.
If ThyssenKrupp shares can overcome even smaller technical chart hurdles between EUR 4.23 and EUR 4.43, this trap could finally snap shut. Another setback below 3.95 / 3.98 euros and confirming below 3.79 / 3.82 euros, on the other hand, could drop the paper towards the corona crash low from March at 3.28 euros. A smaller support extends to 3.60 / 3.66 euros on the way there.
Most recently, ThyssenKrupp’s shares fell for weeks; in mid-August, 7.65 euros were paid for the share certificate. A number of uncertainties surrounding ThyssenKrupp that worried the market were the reason here. From the point of view of the analysts at Morgan Stanley, these are now reasonably sufficiently priced into the price. You are therefore upgrading the paper. So far, their rating was “underweight” and the target price was EUR 5.40. In the new study, the rating “equal weight” is given. However, the price target is reduced to EUR 4.90.