Markets

DAX® – Take a break for the weekend?

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HSBC Daily Trading

Take a break for the weekend?

The DAX® keeps the momentum high. As a reminder: The recapture of the “double averages” – the combination of the 200-day line (current at 12,070 points) and the counterpart of the last 200 weeks (current at 12,244 points) – represents an essential catalyst for us The upward dynamic described is reflected in a further upward gap (12,330 to 12,399 points). At the same time, the German standard values ​​were able to close the negative counterpart from the end of October. In addition to the upward gap mentioned, a fresh MACD buy signal provides additional tailwind. The next start-up target results from the combination of the 61.8% correction of the entire bear market since the beginning of September (11,692 points) and the moving average of the 50 days (currently at 12,743 points). But the current chart also offers important assistance from a risk perspective. In this way, traders with a short-term orientation can adjust the stop loss for existing long positions to the level of yesterday’s price gap. Viewed through the strategic lens, however, the double averages continue to define the decisive retreat zone.

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DAX® (Daily)

Chart DAX®

Source: Refinitiv, tradesignal

The cover par excellence!

The Japanese standard values ​​made it through the difficult months of September / October. With 24,389 points, the Nikkei even posted a new high today. The equity barometer is thus entering the potentially decisive resistance zone. What is meant are the highs of the last three years at a good 24,000 points. Since the market participants have often lost their courage here, a sustained jump over the hurdle mentioned results in a very special investment buy signal! The outlined exemption has the additional charm that, if successful, the entire price development of 2020 could be interpreted as a “V-formation” or an additional exclamation mark would arise after the bottoming out of the last three decades. The various highs and lows at around 27,000 points then define the next destination. The discussed scenario is favored by the seasonality factor. From the end of October to the beginning of May, the Nikkei has grown by around 5% on average since 1990. Due to the difficult market phase of the last 30 years as well as a marginal increase over the year as a whole, this is particularly catchy.

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Nikkei-225 (Monthly)

Chart Nikkei-225

Source: Refinitiv, tradesignal

Brilliant sprint

After another stress test of the core holding zone from the various highs and lows at around USD 300 and the 38-week line (currently at USD 295.31), United Health shares recently jumped again significantly. At USD 360.98, there is even a new record high and thus one of the best signals in technical analysis. Thanks to this development, the entire correction of 2020 can still be interpreted as a “V-formation” (see “HSBC Daily Trading” of October 26th). The depth of the cut in the meantime results in a follow-up potential of almost USD 120 or a target price of USD 420. The title is currently experiencing a double tailwind from Relative Strength (Levy). The trend-following indicator is not only trading well above its threshold value of 1, but has also recently been able to clear an upward flag. On the way to exhausting the discussed connection potential, the 161.8% fibonacci projection of the entire downward momentum from spring (USD 380.25) defines one of the few remaining milestones in the “uncharted territory”. As a hedge, however, the latest upward gap in the daily rate (lower gap edge at USD 326.44) is predestined.

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UnitedHealth Group (Weekly)

Chart UnitedHealth Group

Source: Refinitiv, tradesignal

Upward gap underscores ambitions

Yesterday we pointed out a special constellation with regard to Deutsche Börse shares. After the paper passed the holding zone from the smoothing line of the last 38 months (currently at EUR 124.75) and the Fibonacci cluster from the 61.8% retracement of the entire upward impulse since March (122.42 EUR) and the 261.8% projection of the correction from 2015/16 (121.87 EUR), the almost congruent course lows in connection with a five-fold “bullish engulfing” provided a “tangible” recovery signal. Yesterday’s upward gap (EUR 132.70 to EUR 133.85) gives further emphasis to the countermovement that has been initiated. Since the lows at around EUR 135 have already been reached, the 38-day line (currently at EUR 143.01) remains the next target. The downward trend that has existed since the end of July (currently at EUR 144.49) is just above this. Under the aspect of active risk management, trading-oriented investors can reduce the stop loss to the level of the above. Tighten the exchange rate gap (EUR 132.70). Strategic investors, on the other hand, give their investments a little more breathing space with hedging based on the core holding zone mentioned above.

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Deutsche Börse (Daily)

Chart Deutsche Börse

Source: Refinitiv, tradesignal

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