The German DAX is up by 0.3% points. Compared with the American DOW, - 0.47% points, it is not a bad performance. On the other hand in US we can see a proper correction in the market and in Germany we go to the side. Few companies go up and few companies getting some correction like reported in this blog last week. An overall positive trend for the DAX we can not see. Is that already due to the election in Germany next months? Are they holding the ammunition?
The Commerzbank was doing well last week. Best in class. But that is due to the rumor the German State is looking for someone to take over their share and not because the bank is doing well. They still did not recover from the problems 5 years ago. The stock is ready to cross the 200 days line to the north. That is normally an indicator that conservative retail investors will buy. All indicators looking good but since August 9th the stock is overbought, overpriced. It is not a paper for a new investment.
Dt. Post increased for the last thee days the price after a short break and indicators are swinging back We think it is worth to look into this paper again but having in mind the paper is running on the upper line of the trend channel.
Dt. Bank developed last Friday a buy signal which is not confirmed so far by other indicators. But nevertheless the chart developed a triangle this year and touched for the third time last week the lower line. The chances are quite high the chart will increase next week.
We look again after our all time favorite Lanxess. They are doing well again after the correction a few weeks ago. Indicators are looking good but the trend is still weak. We might have to wait a few more days.
But as always: just my 5 cents
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