Volkswagen AG: technical analysis
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 89.40 |
| Take Profit | 79.00 |
| Stop Loss | 91.00 |
| Key Levels | 79.00, 85.00, 89.40, 91.00, 91.40, 93.50, 100.00, 105.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 93.50 |
| Take Profit | 105.00 |
| Stop Loss | 90.00 |
| Key Levels | 79.00, 85.00, 89.40, 91.00, 91.40, 93.50, 100.00, 105.00 |
Shares of Volkswagen AG, a German automobile corporation, are trading within the intensifying correction just above 91.00.
On the daily chart, the price is falling within the downward channel with dynamic boundaries of 100.00–85.00.
On the four-hour chart, despite staying in the range, the probability of a decline remains high. Soon, the price can renew the year’s low of 91.40 and reach the channel support line of 85.00, which remains the only obstacle to negative dynamics.
Technical indicators are strengthening the sell signal: the fast EMAs of the Alligator indicator are below the signal line, preparing to expand the fluctuations range, and the AO histogram is forming downward bars in the sell zone.
Trading tips
Short positions may be opened after the price declines and consolidates below 89.40, with the target at 79.00. Stop loss — 91.00. Implementation period: 7 days or more.
Long positions may be opened after the price grows and consolidates above 93.50, with the target at 105.00 and stop loss 90.00.
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