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German DAX Trading Into Potential Reversal ZonesGerman Dax is finally breaking out of a fourth wave triangle, now in fifth wave so there is room for a move up to 12910/12950 region, where market may find a temporary resistance and send price south in three waves. We see some important Fibonacci ratios at the mentioned region that can react as turning point zones. A later minor five-wave drop and a break below the channel line would indicate a change in trend. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
OANDA:DE30EUR
by ew-forecast
SGL CARBON GERMAN STOCK WITH 30% POTENTIALI pulled the trigger on this german stock. I am seeing very good potential in it. After a multiyear downtrend which took it from 40€ to 8€ i believe we might be in for a correction, normally i dont like to pick bottoms, but this is a tasty R:R and the fundamentals are also increasingly promising. +SGL Carbon was finally able to sell the final part of its losing operations. Leaving now more funds, to concentrate on its profitable segment. +VW, BMW and SKion, have over the last year became big shareholders/investors in this company. They possess together about 45% of SGL Carbons shares and they have been constantly adding more. +Societe General yesterday changed their outlook for the share price, they are now seeing 12€ per stock as fair value for SGL Carbon. Now to the technical part: We have a big bottom being formed since the beginning of 2016. One can see a potential double bottom. The major multimonth trendline, is a very important line that market participants were testing several times. Bulls managed to make a textbook bullish outside bar, enveloping the previous 5 weekly bars, this is chart technically speaking a bullish signal. One can see on the daily chart a more detailed view of the current situation. I am personally long since 8.45€ looking for this move to extend to 11€ midterm, but this is not a buy recommandations its just a view i have on this stock. It might as well fall, no one knows for sure. My stop is currently placed at 7.90€. I think dips toward 8.30 are a good buying opportunity with a stop below 8€. Please use decent risk management and dont risk too much on one trade. Finally, thanks for reading all this. Blessings to you all.
FWB:SGLLong
by IamJeanPaul
German DAX May Experience Some Weakness In Weakness To ComeOn the daily chart of German DAX we are observing a nice higher degree impulse in motion, with price particularly trading at the end of blue wave 3 of three. If that is the case, then red sub-wave 5) may experience some resistance in days ahead and may expect price to fall into a corrective reversal within the upcoming blue wave four. If that were the case, then the DAX may be in for a slow and choppy ride within the upcoming weeks.
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by ew-forecast