The preferred stock of Volkswagen (WKN: 766403) had marked a 6-year high of EUR 252.20 in March 2021 and is now in one primary downtrend. Most recently, it slipped on in July 2-year low at EUR 120.56. There the share certificate hit extremely oversold starting position in the market technical indicators support cluster, consisting of the November 2020 corrective low and the 76.4% Fibonacci retracement of the last bull market. This bundle of support formed the starting point for the one that has since been established recovery trend. After reaching a Rally highs at EUR 151.50 on August 16th started a reset. He recently attributed the listing to a significant support area, which, among other things, consists of the 50-day line and the Recovery trend line from July low results. In yesterday’s trading, the share certificate showed signs of stabilization. The history low at 137.68 euros is now critical in the short term. A daily close below would provide a first warning signal for a possible termination of the multi-week uptrend. Bearish connection signals would come with a breach of the EUR 134.80/135.14, EUR 128.10 and EUR 125.02 areas with immediate downside risks towards EUR 120.17-122.96. Looking at the upside, next hurdles are at EUR 142.96-144.28 and EUR 145.46/146.22. Only with a daily close above the latter zone would the short-term chart picture brighten in favor of the bulls. Above that, the more important barriers at EUR 151.34-151.50 and currently EUR 157.89-162.38 would move into the technical focus of the chart.