Deutsche Post surges following 2Q earnings - the bullish trend goes on

The logistics company is gaining ground and posts new YTD highs after reporting second quarter sales that beat estimates.

Uptrend 2

The logistics company is gaining ground and posts new YTD highs after reporting second quarter sales that beat estimates. Deutsche Post also confirmed its FY forecasts. 

Fro a chartist point of view, the stock trades into a bullish channel drawn since Mid-March. Both 20 and 50-day MAs are well oriented while the RSI is maintaining a positive trend above 50. As long as 33.9E is not broken, further upside is expected towards 39.9E (all-time closing high) as first target and then 42.5E (Fibonacci projection in extension).



Source : TradingView, Gain Capital

More from Equities

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.