Weekly outlook: DAX in rally mood. Car and steel stocks in demand! – columns

December 18, 2020

of onemarkets blog

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In the past week there was again bullish sentiment on the markets. Facts and fantasies fueled investors’ buying mood. Good economic data and (cautiously) optimistic company news supported this, as did the hope of significantly increasing corporate profits in the coming year, a last-minute deal in the Brexit negotiations and another US economic program. The DAX® improved by 4.4 percent to 13,690 points compared to the previous week and the EuroStoxx®50 gained 2.1 percent to 3,560 points over the course of the week. In the coming week it will be quiet in the second half of the week, as a large part of the stock exchanges are closed due to public holidays.

Yields on the bond market rose in part strongly in the middle of the week. In Europe in particular, however, at minus 0.58 percent, for example for 10-year Bunds, they are still in the area of ​​the historic low. Neither the ECB last week nor the Fed last week gave investors hope of rising interest rates in the foreseeable future. In gold and silver, some investors took advantage of the recent price decline to enter. Silver improved to $ 26 per troy ounce, its highest level since September.

The oil price is now showing gains for the seventh week in a row. The hope of an economic improvement in the coming year associated with the corona vaccine supported the price of the black gold and OPEC + recently agreed to only marginally increase the production quota from January.

Company in focus

The shares of automobile manufacturers and suppliers were once again very popular in the past week. The shares of Continental and VW made it to the podium in the DAX® on a weekly basis – but behind Delivery Hero. Raw material companies were also in demand, among others on BANG index, which shows the price development of four of the world’s largest gold mining companies. In the second row fell among other things Metro, ThyssenKrupp and Zalando with high double-digit gains. The Solactive® German Mechanical Engineering Index marked a new annual high!

Important appointments

  • Germany – Gfk consumer confidence index for January
  • Europe – Eurozone Consumer Confidence, December
  • USA – GDP Q3
  • USA – Uni Michigan Consumer Confidence, December
  • United States – Durable Goods Orders, November
  • United States – Initial jobless claims for the week ending December 19

Chart technical outlook

Resistance marks: 13,705 / 13,780 / 13,820 points

Support marks: 13,400 / 13,590 / 13,610 / 13,630 points

At the end of the week, the DAX® fluctuated in a narrow range between 13,640 and 13,720 points. The index was still a respectable distance from the all-time high. In view of the weakness at the end of trading, a small setback to 13,610 or 13,590 points does not seem unlikely at the moment. Take a breath before the next attempt. The mood turns below 13,500 points at the earliest.

DAX® in points; Hourly chart (1 candle = 1 hour)

Observation period: November 24, 2020 to December 18, 2020. Historical considerations are not reliable indicators for future developments. Source:

DAX® in points; Weekly chart (1 candle = 1 week)

Observation period: December 19, 2013 – December 18, 2020. Historical considerations are not reliable indicators for future developments. Source:

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Call warrants on DAX® Index for speculation on an increase in the index

Underlying WKN Selling price in EUR Base price / knock-out in pts. Last valuation day
DAX® index HR1PQW 10.86 12,900 March 16, 2021
DAX® index HR1PRA 9.47 13,450 June 15, 2021
Source: HypoVereinsbank onemarkets; December 18, 2020; 5:16 pm

Put warrants on DAX® Index for speculation on a price loss of the index

Underlying WKN Selling price in EUR Base price / knock-out in pts. Last valuation day
DAX® index HR1PQZ 4.59 13,300 March 16, 2021
DAX® index HR1PRG 5.80 12,900 June 15, 2021

Source: HypoVereinsbank onemarkets; December 16, 2020; 5:42 pm

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The article Weekly Outlook: DAX in a rally mood. Car and steel stocks in demand! first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).

Author: Richard Pfadenhauer

In the onemarkets blog, experts from HypoVereinsbank onemarkets and technical analysts from GodmodeTrader will tell you what will move the markets before the stock market starts. During the day, the editors keep an eye on the DAX, Dow & Co. for you and show you how you can benefit from the ups and downs with leverage products.

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