The panic and the suspension of travel connections to and from Great Britain, which brought reports of a mutated COVID-19 virus over the weekend, put Lufthansa shares under pressure on Monday morning. Current indications for the MDAX value are quoted in Tradegate trading at EUR 9.20 / EUR 9.25 after the Lufthansa share price ended XETRA trading on Friday at EUR 9.684.
In terms of chart technology, the price pressure on the Lufthansa share could cause new problems. Selling signals are looming: the share price is currently below the chart-technical support range at 9.34 / 9.41 euros, which has played an important role in the performance of the Lufthansa share in the last few days and weeks. The zone is, however, supplemented by further supports in the range between 9.11 / 9.22 euros and 8.85 / 9.00 euros. The focus is currently on the top of these two brands.
If all of the mentioned supports are undershot, Lufthansa’s share price could slide towards 8.51 / 8.58 euros and further supports not far below that. If, on the other hand, the share price of the MDAX-listed aviation company rebounds upwards, there are opportunities for recovery. The first resistance levels can be found in a zone from 9.84 / 9.90 euros to 10.03 / 10.16 euros to 10.286 euros.