Since the beginning of the year, Deutsche Bank’s share has fared like the market as a whole.
After the low in March, there was a swing to the upside,
however, the support at 11.50€ was broken downwards.
After the last downtrend, there was another break and test to the upside.
The test is a positive signal and the share starts the new week strongly with over 7%.
This is mainly due to an upgrade of the stock to ‘Outperform’, from KBW.
14.8€ is the new price target and was thus lowered from 15.50€.
Citigroup gave a new rating from ‘sell’ to ‘neutral’.
On the whole, this and other analysts had given a ‘hold’ rating.
Furthermore, the dependence on investment banks was reduced and
due to rising interest rates, the private customer business improved.
From a chart point of view, the share price is on its way up and
had briefly tried to test the downtrendline today.
Should the upward momentum weaken,
a setback to the 8 euro mark cannot be ruled out.
On the upside, intermediate targets of 12€-13€ can be expected in the upswing.
We wish you a successful start into the trading week!