Finally our beloved "employees" in Washington got their act together and found a solution or GOP recognized they lost the argument. We are back in business. How performed the market? How performed the German market?
The DAX achieved an increase of 1.61% which is certainly not bad having in mind the circus of the last weeks in Washington. The DAX is running right now at the upper line of a channel we see since July this year. We expect the DAX to continue to run along the line.
We discussed the last two weeks Allianz. Allianz was able to grow by 3.22% which is incredible. The title passed the resistance of 120.70 Euros. It was the third attempt and finally he got through. The chart was growing 5 days in a row. It is time for a short correction but the indicators showing a healthy situation again. +DI is above -DI and the gap is growing, MACD is above signal line, PVI is growing and the RSI is meanwhile in the overbought mode. Last December the title was a whole month overbought. We will see if the chart can keep his performance.
Bayer achieved 3.73% and was able to cross the upper line of the short negative trend the title was in since August. The chart is now half way though the the positive trend the title is in since September 2012. We can expect a further increase supported by the indicators we are using. But we have to stress the ADX is not looking very strong. Nevertheless the paper is certainly worth an investment.
Dt. Post we discussed a correction which did happened. The paper achieved 0.71% compare with DAX 1.61%. We do not think the correction is completely over. MACD is still far open to the South, -DI is above +DI and ADX continues to go the South. The strength is getting weak. As discussed before a correction should be used to invest again. It is certainly good investment and thanks to the Internet their parcel business is growing by 10% and can compensate the drop in mail business.
Beiersdorf was able to grow by 1.44% which is less than DAX. As mentioned last week the strength was weak with ADX of 8.8 and now has an ADX of 13.8. The chart develops a triangle since March. The upper line was tested so far three times and will be tested next week by roundabout 70 Euros again. We have to wait with an investment until we see how the chart will perform.
Volkswagen was able to achieve 0.74% which far less then DAX. As we said last week wait with any investment until we will see if the chart is able to go through the upper line of a negative trend he is in since August. If the graph will fall next week we might see a brake of the lower line of a triangle we have since January 2013 by roundabout 173 Euros. So far this line was a good support for Volkswagen this year.
But as always: just my 5 cents.....
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