The shares of the automotive supplier started a breakout attempt today. Schaeffler expects the order situation in the promising e-mobility market to pick up starting next year.
Schaeffler is a manufacturer of electric motors for hybrid and fully electric vehicles. Apparently, a major German vehicle manufacturer has also been won as a new customer. Schaeffler was already able to outperform its forecasts for this sector in 2020.
And the stock was up 8 percent at times today. The course is still very much below the levels before Corona. In January 2020, the share was quoted at 9.96 euros. At present, one share costs around 7 euros.
Today, Schaeffler shares managed to break out above 6.86 euros. This resistance had failed several times in the past. The next resistance is at EUR 7.53 and could be overcome in the course of the next few months thanks to the fundamental tailwind. Below EUR 6.25, Schaeffler will have a hard time finding buyers again in the medium term.