The share of Germany’s largest steel producer has now been in a strong downtrend for several years.
Price losses from 2018-2020 have not yet been recovered.
Positive New at the beginning of the year and an improvement in sales and earnings figures in March only marginally improved investor sentiment. Most recently, the share recovered from €6.70 to around €9.20.
In the short term, I see a correction with a target price of €6.50, which may represent a short opportunity. A stop for this could be set above the downtrend line at €10.00, as this has held up so far.