Varta’s shares have gone through a period of weakness. The battery manufacturer’s share price recently slipped from the new all-time high of EUR 138.70 to EUR 99.20. However, the MDAX share hit the bottom of this movement at the end of October. An interim recovery to 125.10 euros, which was achieved on November 11, was sold off again in the last few days. On Wednesday, Varta’s share price almost reached the starting level again at EUR 100.40, followed by a clear upward swing yesterday: At EUR 107.30, it was more than 4 percent higher than the previous day from XETRA trading, the daily high was even at 109.70 Euro.
This price level was confirmed on Friday morning with indications that shortly before today’s XETRA start are at EUR 108.10 / 108.40.
In terms of the chart, the Varta share could have found its bottom in the EUR 99.20 / 100.40 area. Areas at 97.70 / 98.90 euros and at 102.00 / 103.90 euros supplement this technical chart support area with additional support brands. However, Varta’s share price still has to overcome a strong technical obstacle zone in order to bring further bullish impulses into the emerging trend reversal fantasy. Various chart technical obstacles can be seen between 108.80 euros and 112.50 euros, but the core brand of the hurdle zone should be yesterday’s high of 109.70 euros. So it looks interesting.
Important technical data on the Varta share:
Last share price: 107.30 euros (exchange: XETRA – Frankfurt)
Bollinger Bands 20 (bottom / top): 103.30 euros / 122.30 euros
EMA 20: 112.80 euros
EMA 50: 112.70 euros
EMA 200: 102.00 euros
Security data: Varta
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Ticker symbol: VAR1
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