VOLKSWAGEN AG: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 136.95 |
| Take Profit | 126.00 |
| Stop Loss | 140.00 |
| Key Levels | 126.00, 137.00, 143.00, 152.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 143.05 |
| Take Profit | 152.00 |
| Stop Loss | 140.00 |
| Key Levels | 126.00, 137.00, 143.00, 152.00 |
Shares of Volkswagen AG, a German automobile corporation, are trading just below the 140.00 level.
On the daily chart, the price is moving within an ascending channel with dynamic boundaries of 154.00–135.00, testing the support line.
On the four-hour chart, the quotes are trying to leave the range, after which the target will be a low of 126.00. In case of a reversal at the support line and consolidation above 144.00, the asset may rise to the yearly high of 152.00.
Technical indicators issued a sell signal: fast EMA of the Alligator indicator crossed the signal line down and began to expand the range of fluctuations, and the AO histogram formed corrective bars below the transition level.
Trading tips
Short positions may be opened after the price declines and consolidates below 137.00, with the target at 126.00. Stop loss – 140.00. Implementation period: 7 days or more.
Long positions may be opened after the price rises and consolidates above 143.00, with the target at 152.00 and stop loss 140.00.
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