Before yesterday’s close, shares of the supplier of non-ferrous metals, as well as one of the largest copper recyclers in the world, rose almost 5%. Today, however, the share price fell again by around 1.5% and the previously strong upward trend thus appears to be weakening for the time being. Nevertheless, the share price reached a new high today with an opening price of €81.86. The last relevant low for this was on 21.11. at around €71.52 and has since risen by over 14% at times.
Today’s downward movement has not yet led to any change in the chart picture and the upward trend remains intact. However, if the price falls below €77.00, this would be broken and price declines could be expected again. The price has marked the next support at 78.30€, which was reached on 14.11. still presented a resistance. If the price continues to stay above the mentioned support in the near future and respects it, this can be interpreted as a bullish signal and a further continuation of the rise towards €85.00 could take place again. Otherwise, the price could fall to support or even below. Further declines to the next support at around €72.00 could then follow. Another possibility would be a sideways movement in the range of the current price at around €80.00.