Traders Beware!

Fraudulent websites posing to have a connection with JFD

Please be aware of fraudulent websites
posing as JFD's affiliates and/or counterparties

More information
by Darius Anucauskas

Deutsche Bank Stock Could Be Aiming For 2019 Highs

In the beginning of 2019, after finding resistance near the 8.31 barrier, the Deutsche Bank AG stock (ETR: DBK) sold off and travelled all the way back to the 5.77 mark, which held the price from moving lower. From there onwards, the stock started shifting back up again and after a few large swings, it has now established a new short-term uptrend, marked by the upside support line drawn from the low of December 4th. As long as DBK stays above that line, we will continue aiming higher. But in order to get more comfortable with further upside, we need to see a daily close above the 7.84 barrier, which is the current high of January. Hence, we will remain somewhat bullish, at least for now.

Eventually, if we do get a daily close above the 7.84 mark, we will then consider further extensions to the upside, where the next resistance area could be near the 7.96 zone, marked by the highest point of April. The stock may stall around there, or even correct slightly lower to test the aforementioned upside support line. If it that line holds once again, the share price could rebound and make its way higher. If this time the 7.96 hurdle breaks, this would confirm a forthcoming higher high and we might then aim for the 8.23 area, or the 8.31 level, which is the highest point of 2019.

The RSI is above 50 and points higher, which is in line with the above-discussed idea. The MACD is slightly on the neutral side. Although it is still above zero, the indicator has moved below the trigger line. That said, the MACD currently remains somewhat flat, which supports the idea of waiting for a break of the 7.84 barrier before aiming higher.

Alternatively, if the previously-discussed upside line breaks and the price falls below the 7.29 hurdle, which is the low of January 21st, this may force a few existing investors to close some of their positions. The stock could then travel to the 7.14 obstacle, a break of which may clear the way to the 6.88 zone, marked by the low of December 27th. If there is still not a lot of interest in DBK at that level, a further slide might send the share price to the 6.69 level, marked by the inside swing high of December 9th.  

deutsche bank daily


The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. The Group of Companies of JFD, its affiliates, agents, directors, officers or employees are not liable for any damages that may be caused by individual comments or statements by JFD analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. Accordingly, you should seek, if you consider appropriate, relevant independent professional advice on the investment considered. The analyses and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyses and must therefore be viewed by the reader as marketing information. JFD prohibits the duplication or publication without explicit approval.

There are risks involved with trading of cash equities. Past performance is not indicative of future results. You should consider whether you can tolerate such losses before trading. Please read the full Risk Disclosure.

Copyright 2020 JFD Group Ltd.