The Varta share is still struggling with serious attempts to break out of the consolidation phase of the last few weeks. Initially, the zone at 122.90 / 125.10 euros was too high a hurdle that was last tested in mid-November. After the following price slide from 125.10 euros to 100.40 euros, Varta’s share price was able to clearly confirm the technical support zone here, but then did not return to the starting point of the previous upward movement. Instead, a new stable resistance zone is now emerging in the chart of the TecDAX share at 113.50 / 114.90 euros, which the Varta share has been struggling with since the first test on November 23.
In terms of the chart, the areas at 113.50 / 114.90 euros and 122.90 / 125.10 euros remain the central brands for a possible trend reversal for the Varta share back towards the all-time high at 138.70 euros. The paper fell from 138.70 euros in September and October to 99.20 euros. Together with a smaller technical support zone at 97.20 / 98.90 euros, the level at 99.20 / 100.40 euros now forms a strong support level for Varta’s share price and the potential basis for speculation about the trend. However, buy signals must now come from the aforementioned obstacle zones.