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Daily outlook for November 11th: DAX settles at 13,200 points. Strong demand for MTU, Nordex and ThyssenKrupp!

After yesterday’s fireworks display, the stock markets paused today. The DAX® hovered around yesterday’s high and settled at 13,180 points at the end of the day. The EuroStoxx®50 rose from 3,450 points to its July high. However, the momentum has noticeably decreased. Short-term setbacks cannot be ruled out given the recent rally.

The situation on the bond market has calmed down somewhat today. The yield on 10-year Bunds fluctuated in the range of -0.48 percent and the yield on comparable US securities at around 0.9 percent. The precious metals have caught up after yesterday’s sell-off. The gold price has thus defended the support at 1,860 US dollars, as has the silver price again at 24 US dollars. However, there are no signs of a countermovement. The oil price was now running out of breath. The price of a barrel of Brent crude oil is still ahead of the October high of $ 43.50. An upward breakout is not in sight.

Company in focus

US judges threaten Bayerto resume some glyphosate procedures unless a settlement is reached soon. The share initially continued the upward trend of the past few days. The German postal service generated more sales in the third quarter than in the same quarter of the previous year and was also optimistic for the final quarter. Nevertheless, the paper lost significantly. With a view to a possible vaccine against Covid-19, the online business is expected to slow down in the coming months. MTU Aero Engines continued the soaring today and reached the highest level since the beginning of March. Nordex sets high goals for the coming years. Investors acknowledged it with a double-digit price increase. ThyssenKrupp continues to negotiate state aid after Liberty Steel’s offer for the steel division was rejected and no other buyer for the division is in sight. The share was one of the strongest stocks in the MDAX® today and cracked the EUR 5 mark VW-Daughter Traton drove back into the profit zone in the past quarter. However, the management held back with forecasts. The news gave the share of the parent company VW positive impulses. The manufacturer of meat substitute products Beyond Meat collapsed after disappointing figures. This evening invites Apple to the next keynote.

Tomorrow, among other things, report from Europe Ado Properties, Barry Callebaut, Bechtle, E. On, Morphosys and Scout24 Business figures for the past quarter.

Important appointments

  • Europe – Speech by ECB President Lagarde (14:00)

Chart technical outlook

Resistance marks: 13,160 / 13,310 points

Support marks: 12,670 / 12,810 / 12,960 points

The cops still set the tone today – albeit not quite as loudly. The DAX improved by around 100 points to 13,200 points over the course of the day and is thus approaching the September high of around 13,300 points. The index finds support at 13,160 points. A fall back below the level could initiate a consolidation to 12,960 / 13,000 points.

DAX® in points; 4-hour chart (1 candle = 4 hours)

Observation period: 02.09.2020– 10.11.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de

DAX® in points; Weekly chart (1 candle = 1 week)

Observation period: 11/11/2013 – 10/11/2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de

You can find leverage products for speculation on an upward or downward movement or sideways movement of the DAX® here.

Call warrants on DAX® Index for speculation on an increase in the index

Underlying WKN Selling price in EUR Base price / knock-out in pts. last valuation day
DAX® index HR1PQW 8.47 12,900 March 16, 2021
DAX® index HR1PRA 7.22 13,450 June 15, 2021
Source: HypoVereinsbank onemarkets; 11/10/2020; 5:35 pm

Put warrants on DAX® Index for speculation on a price loss of the index

Underlying WKN Selling price in EUR Base price / knock-out in pts. last valuation day
DAX® index HR1PQZ 7.60 13,300 March 16, 2021
DAX® index HR1PRG 7.91 12,900 June 15, 2021

Source: HypoVereinsbank onemarkets; 11/09/2020; 5:37 pm

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The daily outlook for 11/11: DAX is fixed at 13,200 points. Strong demand for MTU, Nordex and ThyssenKrupp! first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).

Author: Richard Pfadenhauer

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