After significant price gains in recent weeks, the Mutares share took a break from the steep upward trend in the past few days. Today, however, the initially moderate consolidation phase is picking up significant downward momentum. The Munich share price falls to 14.42 euros and stabilizes at the lower Bollinger band. The Scale title is currently trading at EUR 14.85, a decrease of 6.78 percent due to profit-taking. As a reminder: Between mid-October and the end of November, the Mutares share price had exploded from EUR 9.88 to EUR 16.86.
We had recently warned that technical sell signals could trigger a clearer consolidation after the strong gains – this has recently been confirmed. “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 a little effort in mid-November and now offers support”, so the conclusion of the analysis from December 8th – the paper was still noticeably above the supports at 15.78 / 15.86 euros and 15.28 / 15.58 euros, which were undercut today and thus become resistance marks for the share of the high-dividend Munich investment group .