The shares of TecDAX high-flyer Nemetschek have also suffered considerably in recent weeks. How should we assess the technical situation of the share? An analysis in the weekly chart of the share.
2021 Rally corrected
The share price headed north in calendar year 2021 as if pulled by a string. Since the beginning of the year, however, the wind has shifted here, and the entire 2021 rally has since been corrected again. Most recently, the share failed in the area of horizontal resistance around EUR 70. First pro-cyclical buy signals would emerge at a weekly close above this level.
Until then, however, investors should be prepared for a bottoming process in the area of the EUR 50 mark lasting several weeks. This is currently the favored scenario for the coming months.
