This was a good week. The DAX could recover by 2.71%. As discussed last week the resistance line was once again able to stop the free fall of the index. Is the correction over? We think so. Too many stocks gained last week but the rebound is still on unstable ground. We do expect some resets which will not change the general direction: up again. Dt. Bank expect the DAX by 11,000 at the end of the year. Right, we all have dreams.
Adidas was in red last week but all the other companies of the DAX were able to gain quite a bit. We looked during the last weeks at
Allianz again up by 1.67% this week
Infineon up by 3.48%
K+S up by 0.93%
We always said an investment in these stocks is risky. None of these companies have a volume indicator who would support an investment. By K+S we actually think it is time to close again the position and be happy with the small profit we gained.
But a weak RSI we can see more or less by all stocks of the DAX index, he did not cross the trigger. That is the reason why we expect some smaller resets during the following days until the indicator will finally cross the line and confirm the change of direction.
Looking for a company where the RSI already confirmed a change we found Dt. Post. Performance last week was 4.04%. We think it will continue.
Dt.Post is our favorite of the week.
We spoke last week about a stock of the TecDAX, Jenoptik. It looks like some investors took the opportunity and cashed in and the stock went into red last week. While we are still bullish for the paper we might see a short reset as the MACD is closing.
But as always: just my 5 cents........
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