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Grenke share: The picture brightens, but … – Chart analysis

After the Grenke share initially slumped to EUR 23.92 in the “Viceroy Crash”, which it reached on September 17, there then developed a volatile up and down with a recovery peak at EUR 46.00. In the course of the strong price fluctuations of the last few weeks, however, Grenke’s share price no longer fell back to the previously reached crash low, but was able to build up a stronger technical chart support in the area around the 30 euro mark. From this zone it went up again in the last few days. Yesterday, the Grenke share was able to expand the upward movement that started on Wednesday at 30.40 euros and peak at 35.70 euros. At 35.38 euros (+5.55 percent), the stock was then taken out of XETRA trading. Current indications on Tuesday morning at 35.62 / 35.98 euros indicate a friendly start to trading.

While the risk of new negative reports from Fraser Perring’s Viveroy Research about Grenke remains a risk for the shares of the Baden-Baden company, the technical picture has brightened. Of course, the development is not yet a breakthrough. The increased importance of the zone between EUR 29.02 / EUR 29.40 and EUR 30.40 / 30.66 as a strong technical support in the event of setbacks in the volatile Grenke share is particularly important for traders. This should hit smaller chart technical obstacles between the 36 mark and 36.82 / 37.20 euros. The leasing group’s share price then encounters higher obstacles at the latest above EUR 38.34 and in the EUR 40.50 / 40.96 range before the recovery peak at EUR 46 could become an issue again in the event of a break.

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