Two days were the German stock market open this week. It was enough to achieve a good result. 5.55% increase for the week is an respectable result. There is no stock in red for the week.
We spoke about ThyssenKrupp last week, stock increased by 3.88% and touched again the lower line of the channel. The channel is positive since April. Price level, RSI, is good, PVI indicates money is going into the title, MACD crossed signal line and +DI crossed -DI. Only challenge is the SMA 50 (around 18.30 Euros) but all negative headlines are known, i.e. American Steel Factories. If the stock can cross the SMA he should be able to achieve again an area of 19 Euros.
New this week as a buy candidate is Lanxess. The company could increase the stock price by 7.91% to 48.35 Euros. On Friday the last parameter of our trade system was fulfilled: the +DI crossed -DI. PVI, RSI and MACD shown already for some days a buy. But the stock has to cross the SMA 50, currently 48.73 Euros, to confirm further growths. Our goal this time is 52.30 Euros. Two times since July the stock tried to cross this resistance. If the stock is able to cross the SMA 50 he has to overcome the resistance of SMA 200, around 52 Euros, coming down due to the side trend since July.
As we mentioned at the beginning of this post the German stock market was only open for two days. We are confident only Retail was active on the market. Next week, after New Years we will have back the Commercial Traders and the situation might be slightly different.
But as always: just my 5 cents........
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