At the end of the volatile week on the stock market, we will first talk about the DAX, which already came under a lot of pressure on Monday. After the new low below 15,000 points, however, there was a quick recovery, which was then sold off again on Wednesday. In the midst of the ECB interest rate decision, the reversal from the new monthly low was successful and the return today was over 15,140 points. But this was not sustainable either – on the expiration date, the DAX was again listed at 14,800 and is having trouble defending its monthly lows again.
Trading on Wall Street was just as exciting. Initially, other bank stocks came under pressure. After the stress test for the sector by the “Silicon Valley Bank” in the previous week, the CreditSuisse in sight. Also stocks on the periphery, to which one the broker Charles Schwab can count have been punished. Wrongly? This is exactly the starting point for the first discussion as part of our weekly review and market analysis in the Nanotrader with Roland Jegen.
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The medium-term chart images and framework conditions continue to indicate the uncertainty of market participants. In the case of the DAX in particular, strong minus days alternated with strong plus days. The Nasdaq, on the other hand, was more buoyed by confidence that the US Federal Reserve would not hike interest rates as much in the coming week.
We are looking at the FED estimates at this point and looking at the uncertainty also directly at the gold price. It is about to make a new monthly high. On the other side of the asset classes, the oil price is already at its low for the year and is pricing in weaker economic performance.
This does not quite match the high level of interest in Bitcoinwhich we also saw very buoyantly trending to the upside after testing the 20,000 level this week.
Matching representatives from the stock sector were one chevrons and Coinbase, which also reflected the movements on the corresponding basic markets almost directly. From the technology sector, we took a closer look at strong chip stocks. One intel and a AMD gained about 15 percent over the week, a NVIDIA hardly lagged behind this development.
Also interesting is the comeback of Amazon and alphabet. Both heavyweights are close to the 100 mark and have now technically “caught” themselves again. This also applies to the NetflixStock that remained in its uptrend channel..
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This is exactly what Roland Jegen and Andreas Bernstein talk about and give an outlook on support and resistance for various stocks that are currently in focus. This creates potential opportunities for our trading.
What can be expected in the future? All insights are available in our video!
Risk Notice
This article is the personal opinion of the author. It is for information only. These analyzes must not be interpreted as investment or financial advice. An investment decision regarding any securities or other financial instruments requires background knowledge of your personal situation, which the author does not know. This content is out of date and will not be updated once published.
Every investment involves risk. Every investor should check, if possible with the help of an external advisor, whether these financial instruments are suitable for his personal situation. Profits made on a demo account are not a guarantee of future profits. Using leverage involves the risk of losing more than the total balance of the account. You are under no obligation to use leverage.
