Finally the DAX was able to break through the resistance line by 9,700.
It looks like all the talk of the important journalists regarding a correction since January was what we always said: popular economy. Now they try to find an explanation like the EU election is over and of course the potential war in East Europe is off the table. Do not forget the shovel in the harbor of Hamburg did not fall down either. So the stock market must be good and will reach 10,000 points, finally.
It was a long ride to break through. Let us see who might drive the growths during the next weeks.
We spoke about Beiersdorf. We keep our investment but the strength of the trend is getting weaker. Henkel is now in a side trend and it is time to cash in. MACD is negative and DI- is taking over. Linde did get on Friday a sell signal, time to close the investment. Merck got on Friday a sell signal too. It was quite a good investment. We think we have here only a short break and the stock will continue to increase quite soon. There is enough room for improvement.
Who might push a further DAX growths? We think BMW and Daimler are good candidates. We expect moderate increase during the next weeks. The strength indicator is not at a level we normally would like to see for an investment. Bayer is also on our our list. ADX is at 54, clever money is moving into the title and not overbought yet according to indicators like RSI. The stock showed an incredible performance during the last months and we think there is more to go. Last Monday we got another SAR buy signal.
But as always: just my 5 cents....
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