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Varta share: a setback, but not a major “accident” – chart analysis

Yesterday the Varta share missed the leap over an important technical chart hurdle in the short term – and currently there is still the receipt for it. Yesterday’s rise to 123.80 euros in the meantime was clearly not enough to remove the technical obstacles between 122.90 euros and 125.10 euros. Instead, Varta’s share price fell to EUR 120.50, recovered to EUR 121.30 at the end of XETRA trading and is again under pressure this morning. Current Tradegate indications for the Varta share are trading at 119.80 / 120.00 euros, still below yesterday’s low.

While the resistance at 122.90 / 125.10 euros was strengthened yesterday, the downward impulses are so far not a major “accident” in terms of chart technology. Support was recently shown around 117.70 / 118.80 euros, which is currently being reinforced by the rising 20-day line at 118.20 euros. On Tuesday and Wednesday, the zone around the EMA 20 was a clear support zone for Varta’s share price. If there is a sell signal at 117.70 / 118.80 euros, the pressure could increase and the Varta share be pushed back towards 116.10 / 116.60 euros and 113.50 / 114.90 euros, where the next ones technical support is waiting.

In the event of a breakout above 122.90 / 125.10 euros, however, the resistance zone around Friday’s high of the day (131.70 euros) between 131.30 / 132.40 euros and 134 euros could come into focus again. At 128.00 / 129.10 euros there would be a potential intermediate hurdle. Above these various obstacles is the all-time high of the Varta share at EUR 138.70.

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