Shortly before today’s XETRA start, a quick look at the technical chart situation for the Commerzbank share. Most recently, it was able to recover significantly from the setback from EUR 5.35 to EUR 3.987. However, a look at the chart shows that the upward movement has lost momentum in the past few days. All four recent daily highs can be found in the range between EUR 4.733 and EUR 4.820. The zone is well known for 4investors readers, here the resistance range can be found between EUR 4.77 and EUR 4.86. The fact that all four (!) Day candles in the candlestick chart of the Commerzbank share still have clearly recognizable wicks indicates an increased propensity to sell on the stock exchange at this price level.
So there is possibly a risk of a setback, based on a failed technical break attempt. In addition: the zone above 4.86 euros is peppered with further technical obstacles. Particularly noteworthy are the brands at EUR 5.02 / 5.06 and EUR 5.30 / 5.38, where the banking group’s share price bounced down on September 7th. All in all a strong resistance cluster that opposes the cops. If the Commerzbank share fails because of this, the slide below the nearby 200-day line at currently 4.608 euros could be enough to reverse the short-term trend.