Again we did have an interesting week. The DAX was diving in after Washington continued with the political game. Nevertheless Thursday and Friday the stocks jumped up again after we could see finally they talk to each other again in Washington. Overall the DAX increased for the whole week by 1.18%. Not bad after such a bad start at the beginning.
Allianz got a buy signal, turned to the North again and indicators suggest things might be good. But the strength of the trend is getting weaker and the stock hits for the third time this year the resistance of 120.70 Euros. We will wait and see if the title is able to cross the line this time before we make any decision.
We spoke last week about Bayer. As discussed the stock was going to the South like all the others, was pushed back to the North and hits now the upper line of a negative trend.
Like we expected the Dt. Post got a correction. Even with the run at the end of the week the title was not able to compensate the loss of the early week. A reduction of -1% for the week as of Friday. As discussed is it time to buy again? The RSI shows the stock is not expensive anymore but MACD, wide open and DI, just crossed on October 9th, suggest we should wait a few more days before go long again.
Beiersdorf continued to surprise us. The trouble at the beginning of the week did not have a major impact and the paper increased by 1.83%. All the indicators are looking good but the ADX, 8.8, tells us the trend is extremely weak and the positive trend could easily loose the drive.
We are looking again at Volkswagen. Since August the stock is going to the South, created a short negative trend channel. During the week the stock increased by 4.22% and is champion. Can Volkswagen continue the trend of last week and push back to over 180 Euros? Such a development would be in range of the upside trend Volkswagen has since April. SAR created a buy signal on Friday, MACD was crossing the signal line on Friday to the North and DI is going into a buy phase next week. The PVI does not support the overall good picture for this stock. But the price is right, is good with an RSI of 53. We have to wait until Tuesday to make our final decision.
But as always: just my 5 cents
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