After the recent price rally of the Infineon share to the new multi-year high of 29.945 euros, a sideways consolidation has emerged in the last few days. Infineon’s share price has been hovering between 29.600 / 29.945 euros and 28.605 / 28.850 euros for days now, just below the 30-euro mark. With 29.57 euros and 2.92 percent plus on the previous day, Infineon shares started the weekend on Friday.
From a technical point of view, what is interesting about this so far very moderate consolidation movement is that the strong technical support at the previous high of EUR 28.00 / EUR 28.33 has not even been jeopardized by a pullback. Here and at 27.41 / 27.45 euros and at 26.96 / 27.18 euros are the next support marks for Infineon’s share price, while the 30 mark has developed into a clear technical resistance for the DAX value.
The analysts from Bernstein Research meanwhile believe in further price increases for the Infineon share. The equity analysts have raised their target price for the share of the semiconductor company from 27 euros to 35 euros. In the DAX stock you can see a top pick for the coming year and rate the Infineon share as “Outperform”. In 2021, Infineon should benefit from both cyclical trend developments and long-term trends.
Important technical data on the Infineon share:
Last share price: 102.78 euros (exchange: XETRA – Frankfurt)
Bollinger Bands 20 (bottom / top): 97.28 euros / 102.75 euros
EMA 20: 100.01 euros
EMA 50: 109.01 euros
EMA 200: 118.07 euros