Daimler - continuation of the short term rebound
Nicolas Suiffet May 26, 2020 5:39 PM
Daimler, the automobile group, will invest in Chinese electric vehicle battery producer Farasis Energy's 480 million dollars IPO.
Daimler, the automobile group, will invest in Chinese electric vehicle battery producer Farasis Energy's 480 million dollars IPO, reported Reuters citing people familiar with the matter.
In addition, the company said that Philipp Schiemer has been appointed chief executive of Mercedes-Benz's subsidiary AMG. He would succeed Tobias Moers, leaving to become CEO of Aston Martin.
From a chartist’s point of view, the stock price escaped from a consolidation channel and rebounded from its rising 20DMA currently at 30.7E. The bullish gap opened this morning could help the price to break above the resistance threshold at 33.45E.
Readers may want to consider opening Long positions above support at 30E. Bullish signal confirmed if 33.45 is broken (buy stop). Next bullish target is set at 37.6E (50% Fibonacci retracement level).
Alternatively, a break below 30E would invalidate the bullish view and would call for a reversal down trend with 26.3E as first alternative target.
Source: GAIN Capital, TradingView
From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.