Review: Siemens shares moved sideways from the beginning of August through September in a range of around EUR 114.00 to EUR 120.70. On September 21st, the downward breakthrough took place out of this week-long sideways channel. In doing so, the bears were able to break through the 50 EMA downwards and take up further downward momentum. The downward movement extended to EUR 104.00 by September 28th. In this area, however, the 200 EMA, which is important for the long-term course and which was able to contain the bear, ran. The shares turned up again at the 200 EMA and are currently right at the 50 EMA in the EUR 112.21 area. If the bulls manage to break through here as well, the situation for the stocks would brighten again and further upward momentum would develop.
Outlook: Siemens’ papers are currently still in an upward revision in the overall downward trend. However, if the bulls achieve a sustainable breakthrough above the 50’s EMA, the situation would brighten up significantly.
The long scenarios: the bulls launch another attack on the 50’s EMA and finally break through to the upside. Then new upward momentum could develop and another breakthrough above the resistance at EUR 114.50 / 115.50 could be achieved. In this case, the bulls should then set course for the resistance at EUR 120.00 and head for the course high of August 27 at EUR 120.66.
The short scenarios: The bears can defend the 50’s EMA and push Siemens shares down again. Then the downtrend would continue and there would be another attack on the 200 EMA. If the bears manage to break through here too, the situation would deteriorate in the long term and there would be a further return to the falling trend line at around EUR 96.00.
Disclaimer: The text is a column of the UBS. 4investors is not responsible for the content of the column and therefore does not necessarily have to agree with the opinion of the 4investors editorial team. Any liability and claims are therefore expressly excluded by 4investors!
At a glance – chart and news: Siemens