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Commerzbank share: a rally towards 6 euros would be possible, but … – Chart analysis

The Commerzbank share is currently able to defend its recent rise above the important technical chart hurdle at EUR 5.35. In the last few days, new support has built up in the range of 5.19 / 5.22 euros, previously at 5.524 euros a new high in the recovery movement after the corona crash from 6.832 euros to 2.084 euros. In the last two trading days, the Commerzbank share price rose again from 5.19 / 5.22 euros and yesterday, at 5.50 euros, almost reached the top zone of the â € œpost crash timeâ €. Current indications on Thursday morning are trading at EUR 5.47 / EUR 5.50, which is little change from yesterday’s XETRA closing price of EUR 5.50 (+1.81 percent).

For the Commerzbank share, the question arises from a technical chart about a possible new resistance, which could form just above EUR 5.35 in the EUR 5.50 / EUR 5.52 range. Not far beyond that, another high hurdle extends between EUR 5.93 and EUR 6.08, which played a decisive role in the Commerzbank share price, especially in the second half of 2019. This area could become a price target if the MDAX value breaks out with new buy signals at EUR 5.50 / EUR 5.52.

In contrast, a stable slide below 5.19 / 5.22 euros for the financial stock would initially be a clear technical setback that would cloud the overall picture – at least in the short term. The next technical chart support for the Commerzbank share would already be available between EUR 4.90 / EUR 4.96 and EUR 5.02 as well as below EUR 4.82.

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