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Munich Re – competition creates hope!

The corona pandemic and its effects did not leave insurers unaffected. With its current figures, Swiss Re is spreading hope of a trend reversal, including the German insurer Munich Re benefits.

The second largest reinsurer, Swiss Re, was able to contain its losses in the third quarter and thus reflects a positive development. Although both companies are showing a big minus on the balance sheet for the year, there are signs of improvement. This can currently also be seen clearly in the reaction of stock market traders. in the case of Munich Re There are signs of a cautious stabilization in the form of a marked support from the last few years and could well result in a medium-term trend reversal. But it is not more than a tender plant so far, the situation around the corona virus is coming to a head again.

Difficult market environment

The paper of the Munich Re around a stabilization at the 50% Fibonacci retracement and the support of roughly 196.00 euros. A sustainable weekly closing price above this would be desirable for a positive view of the share, price gains could then set in again next month and ensure a recovery to 211.98 euros. In addition, there is even the possibility of increasing the hurdle by 220.00 euros. However, should investors decide otherwise and send the value down below 196.00 euros, a correction expansion back to 184.92 euros would have to be assumed.

  • Resistances: 205.90; 209.67; 211.98; 215.00; 218.00; 220.00 euros
  • Supports: 200.00; 198.45; 196.00; 194.10; 198.65; 1887.55 euros

Munich Re in euros in the daily chart; 1 candle = 1 day (logical candle chart display)

Observation period: 28.10.2019 – 10/30/2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de/underlying/DE0008430026

Munich Re in Euro in the weekly chart; 1 candle = 1 week (logical candle chart display)

Observation period: 26.10.2015 – 30.10.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de/underlying/DE0008430026
Products based on Munich Re shares and other underlyings can be found at: www.onemarkets.de

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The contribution Munich Re – competition creates hope! first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).

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