Deutsche Bank: Dangerous situation for the stock

After a strong run, Deutsche Bank is in danger of running out of stock. The share price of the DAX group has been unsuccessfully trying to break out of major technical chart resistance for days after rising from EUR 7,2 9 to current price levels on October 3. Deutsche Bank’s share rose to 9.91 eurosat first it was not enough. The bank’s share ended yesterday’s XETRA trading at 9,793 EUR, this morning the Tradegate share is quoted at 9,769 EUR. The technically important barrier of 9.79/9.91 euros thus remains in focus. Five consecutive break-in attempts were made, of which none of the Deutsche Bank shares could be used. The daily peaks between 9.86 and 9.91 euros are typical for the last few days. Strong resistance below 10 euros If the break does not materialize, the risks of taking significant profits will increase. The downside cushion is thin: even a slide below EUR 9,635 can be interpreted as a sell signal and a trigger for profit. The first letter supports appear around 9.18/9.32 euros. If they go short, the bulls will be in trouble.

Steve Walker

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