The share was one of the strongest performers in the DAX40 today (Thursday). How should we assess the chart situation?
Will the breakout succeed?
After the bullish reversal at the end of May, the share has already risen strongly in the past few days, but did not get above the much observed EMA50 in the daily chart. This moving average corresponded with the downward trend in the daily chart and currently represents the decisive hurdle on the upside. If the buyers succeed in closing the day above EUR 70.50, this would be interpreted as a pro-cyclical buy signal, which should result in follow-up orders on the upside.
In that case, the share would have further upside potential in the EUR 83 to 85 range.