Since the all-time high in January 2021, the share has been in a continuous downward trend.
The downtrend line has been respected since then and a bottom could be formed in this area.
It remains to be seen whether the double bottom at €13.30 will be held.
Fundamentally, the company is currently experiencing difficulties in obtaining gas –
as long as the Nord Stream pipeline is out of service.
According to the statements of the supplier Gazprom, the leak in the pipeline should be
not cause any major delays.
Without going into further detail, however, Siemens Energy continues to face pressure from the sanctions against Russia. In addition, the onset of winter, and therefore increases the demand for gas.
Chart-wise, a hold of the triangle formation or an upward breakout through the downtrend line can promise higher price targets. Realistic are currently 16€ -18€.
On the other hand, there may be a break of the bottom and a further downward movement.
Then targets of 11€ -12€ can be expected.