BASF share: Where is the liberation?

BASF’s share price seems almost „frozen”. For days, the DAX product only moved in a narrow trading range below the area of ​​major technical resistance. There were no major setbacks during this period, although BASF shares made several unsuccessful attempts to clear the barrier area just above the €53 mark. XETRA came out yesterday at a price of 52.7 euros. Shares in BASF (WKN: BASF11, ISIN: DE000BASF111, Chart) are currently trading at €53.13 on Tradegate. The important resistance area for the chart at EUR 53.08 / 53.13 is still under pressure, against which the DAX share has fought in vain since January 9 (!). A stable rise above EUR 53.08/53.38 is needed – as soon as possible. That would unlock further potential for BASF shares. The next obstacles for the share price of the chemical group Ludwigshafen can be found in quick succession at the limits of 55.52/56.06 euro and 57.06 euro and 58 euro.

Steve Walker

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