Mutares share after the rally: this is the situation! – Chart analysis

After the steep rally of the past few weeks, the Mutares share has switched to consolidation mode. Strong: Despite the significant price gains in advance with an upward movement out of the zone around the EUR 10 mark, which started in October, to EUR 16.86 on November 27, the Mutares share price almost completely defended the plus. So far, the consolidation is just below the movement high, most recently in a trading range between EUR 15.78 and EUR 16.49. The last few days have been characterized by falling sales, so the pressure to sell remains low.

In terms of the chart, this so far very moderate consolidation is a positive development for the Mutares share. In the course of the last few days, between 16.32 / 16.49 euros and the top zone at 16.78 / 16.86 euros resistance has developed for the share of the investment group. Between 15.78 / 15.86 euros and 15.28 / 15.58 euros, the first technical support for the Mutares share price can be found on the opposite side. A stronger consolidation movement in the paper would hit a massive chart technical support zone at the latest at and below the 14 euro mark – an old resistance that could be overcome with some effort in mid-November and now offers support.

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