Porsche Holding – Triangle in focus

The share of Porsche Automobile Holding (WKN: PAH003) had a dynamic price increase as part of the rally from the Corona crash low at EUR 28.28 in March 2020 to one recorded in June last year 13-year high at EUR 102.00 shown. Since then, she has established a superior downtrendwhich will be on until July of this year Low at EUR 59.06 returned. One started there recovery rally until 74.98 eurosfollowed by a reset in the area of ​​the overcome multi-month downward trend line. Above the correction low at EUR 64.08, one recently developed symmetrical triangular structure. The upper limit line of the triangle was approached in yesterday’s trading as part of a dynamic price boost from the intermediate low of EUR 65.26 before profit-taking began. A daily close above the current hurdle is now required to generate a procyclical follow-up buy signal EUR 73.18/73.35 necessary. A confirmation of the bullish scenario would be seen in a break above EUR 74.06/74.98. If successful, the next price target is the falling 200-day line at currently EUR 76.90. Further target projections can be derived at EUR 79.94-82.26 and EUR 84.00-84.74. Looking at the bottom, the value has the next support areas at EUR 69.96-70.16, EUR 69.20/69.22 and EUR 68.29. Below that (daily closing price basis), the currently constructive starting position would be neutralized. It would now become immediately bearish below EUR 65.26 and EUR 64.08 with a possible target of EUR 59.06.

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