Volkswagen (VOW3.de) bullish scenario:
The technical figure Triangle can be found in the daily chart in the German company Volkswagen AG (VOW3.de). Volkswagen AG, known internationally as the Volkswagen Group, is a German multinational automotive manufacturer. The company designs, manufactures and distributes passenger and commercial vehicles, motorcycles, engines and turbomachinery, as well as offering related services, including financing, leasing and fleet management. In 2016, it was the world's largest automaker by sales, and keeping this title in 2017, 2018 and 2019, selling 10.9 million vehicles. It has maintained the largest market share in Europe for over two decades. It ranked seventh in the 2020 Fortune Global 500 list of the world's largest companies. The Triangle broke through the resistance line on 02/11/2022. If the price holds above this level, you can have a possible bullish price movement with a forecast for the next 9 days towards 141.98 EUR. Your stop-loss order, according to experts, should be placed at 125.40 EUR if you decide to enter this position.
VW reported $4.3 billion in third quarter operating profit. Wall Street was looking for $4.5 billion. Shares are down 3.8% in overseas trading.
Financial guidance hasn’t changed, but delivery guidance has. Back in July, Volkswagen believed total deliveries in 2022 would rise 5% to 10% compared with the 2021 total of 8.9 million units. Now the company expects 2022 deliveries to be the same as 2021. Supply chain constraints are to blame.
Despite that headwind VW’s EV business continued to expand in the quarter. Battery electric vehicles amounted to 6.8% of total VW deliveries. Year to date, VW has delivered 366,400 EVs, up from 293,000 delivered in the same period of 2021. China accounted for 112,700 of those 2022 EV deliveries. VW’s Chinese EV sales are up 139% so far in 2022 compared with the same span of 2021.
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VW reported $4.3 billion in third quarter operating profit. Wall Street was looking for $4.5 billion. Shares are down 3.8% in overseas trading.
Financial guidance hasn’t changed, but delivery guidance has. Back in July, Volkswagen believed total deliveries in 2022 would rise 5% to 10% compared with the 2021 total of 8.9 million units. Now the company expects 2022 deliveries to be the same as 2021. Supply chain constraints are to blame.
Despite that headwind VW’s EV business continued to expand in the quarter. Battery electric vehicles amounted to 6.8% of total VW deliveries. Year to date, VW has delivered 366,400 EVs, up from 293,000 delivered in the same period of 2021. China accounted for 112,700 of those 2022 EV deliveries. VW’s Chinese EV sales are up 139% so far in 2022 compared with the same span of 2021.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
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