SZG trade ideas
RetracingLooks if like we've found a bottom and may retest the high again or complete a Fibonacci retracement at least.
#szg - Nerve of steel .. #Salzgitter-- is what an investor in Salzgitter shares needed.
Since the all-time high EUR 158.70 in July 2007 before the last financial crisis, the share price has only known one direction.
DOWN
Now the all-time low EUR 5.85 from November 2002 is not far away and is within reach. By the way, this was the second last financial crisis.
So if Germany does not sink and slide into the next Middle Ages, there is still hope for the Salzgitter share that the Corona Depression could become the turning point for Salzgitter AG and the associated share. Actually, steel is always needed, be it for the construction of cars, building construction/civil engineering, sheet metal, ... and Salzgitter's real estate and machinery are worth more than the stock market currently recognizes for the company.
But I wouldn't buy the shares at the moment, because a 40% price loss can be quickly realized here as well.
With 1/3 equity and 2/3 Debt, there is at least a good chance of survival, even if the company is about to firemany employees in order to ensure its survival.
Alarm clock lies at the all-time low.
Greeting
Stefan Bode
P.S.
Please comment, then I can give you reputation points by clicking on the green pyramid in front of your comment. Still not everyone knows that this works. Gladly also among the other commentators. Greeting + 🍻 + nice WE.
Short SZG - 1D TFI opened a short position on $SZG last week as 1D closed below DC20 and is reversing below MA20 to the downside - I am expecting the downtrend to continue to reach potentially ATL and/or determining target by a trailing stop. ATL is below 5.86.
RSI is bearish, ATR and PVO is about to grow. SL is TBD and moving as is determined by DC20 - if daily closes above DC20.
Thank you for the likes and comments and please trade carefully and with money you can afford to lose!
Breakout good for 20%?If Salzgitter could break the resistance Level @ ~ 38,7 a bigger breakout move can be exspected with a tp @ 46,6
