Deutsche Bank Daily Technical Analysis | 10 January 2018
2018-01-10 11:27 am | Resource: Technical Analysis Section | No Views : 325
The German stock is trading in a bearish trend in formation, the simple moving average and the slow moving average are negative crosses.
By analyzing the previous chart we notice that, the bank stock broke the neckline of a complex head and shoulders pattern with a negative target price of 14.50 Euros.
MACD is cross and the Histogram columns are decreasing below zero which supports the negative pattern and we do not recommend opening big positions due to the beginning of weakness in the sellers' resolve.
It is expected that, as long as the stock is trading below the neckline, it targets 14.50 levels, but in case of breaching the 15.33 zones it might target the 16.27 level.
Support: 14.87 - 14.28 - 13.51
Resistance: 15.65- 16.90- 17.49
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