Happy Holiday’s guys! Here’s my technical analysis on the Deutscher Aktien Index (German Stock Index/^DAX/^GDAXI) which is a blue chip stock market index consisting of the 30 major German companies trading in the Frankfurt Stock Exchange. Some of the notable companies included in this index are Adidas, BWM, Deutsche Bank and Volkswagen Group. Anyway, the last time I posted on this was back in July of this year and I mentioned that there could be [Read more...]
Deutscher Aktien IndeX Technical Analysis
German Stock Index Pumped Up by Positive News – July 22, 2010
The German Stock Index (Deutscher Aktien IndeX/^DAX/^GDAXI) went up by 2.53% to 6,142.15 as the PMI (Purchasing Managers Index) numbers in the Euro-zone came in significantly above the expected. Another factor that bolstered the global markets’ ascend today are the impressive earning results of US companies such as Boeing, American Express, Caterpillar, Ford Motors, McDonalds, Microsoft, Amazon, ExxonMobil, Chevron and General Motors.
The chart of the German Stock Index is forming an ascending triangle formation and after a good trading session earlier the value is now pointed upwards. If this index pierces through the resistance of the triangle, the immediate target price could be 6,626.70. If the 6,626.70 marker gets cleared out, the next resistance could be 6,855.84. In case the bears come in and the index starts heading south, the immediate support could be the uptrend. If the value further slides below the uptrend, the next support could be 5,906.04.
A Look into the German Stock Index – July 15, 2010
The German Stock Index (^DAX) consists of the 30 major German companies trading in the Frankfurt Stock Exchange. Some of the notable companies included in this index are Adidas, BWM, Deutsche Bank and Volkswagen Group. Anyway, the chart of the ^DAX could be forming an ascending triangle formation. If the value breaks above the triangle’s resistance, the next price mark could be 6,626.70. If the 6,626.70 marker gets cleared out, the next resistance could be 6,855.84. In case the index starts heading south, the immediate support could be the uptrend. If the value further slides below the uptrend, the next support could be 5,809.37.
DAX Technical Outlook – July 5, 2010
The German Index or the DAX consists the 30 major German companies trading on the Frankfurt Stock Exchange. Chart-wise, it looks like the German stock index does not share the same fate as the Dow Jones Industrial Average, Nasdaq Composite, S&P 500 and the FTSE 100 as we do not see any head and shoulders in its chart. The value currently moves in a trading range and is pointed downwards. The immediate support of the trading range could hold on to DAX from further falling. If it does not and a slippage takes place, the next support could be 5,607.68. If the index starts going up, it could encounter some selling pressure at the 6,000.00 psychological level. If that hurdle gets cleared out, the next resistance could be 6,341.52.
