DAX Index
DAX Found Support on the Megaphone's Higher Lows.DAX is on the 8th straight sideways 1D candle as it found Support on the bottom (Higher Lows trend-line) of the long-term Bullish Megaphone pattern. The 1D MA50 (blue trend-line) is the short-term Resistance while the price is trading around the 1D MA100 (green trend-line) as pivot.
We are bullish, targeting the Internal Higher Highs trend-line at 17000, as long as the Megaphone's bottom holds. The bullish extension may be even higher considering the fact that the medium-term pattern could be an Inverse Head and Shoulders (IH&S) that technically targets the 2.0 Fibonacci extension at 17400.
If however the price breaks below the Higher Lows trend-line, we will short-term sell targeting the 1D MA200 (orange trend-line) where a 1D candle close below it, would justify a bearish extension to Support 2 at 14470.
For now the trend remains bullish, as illustrated by the 1D RSI also which is on an 8-month Support Zone.
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Stock Index Review...Key Levels you need to watch!!We take a look at the Daily charts and price action on our Key Indexes.
It is important to have a longer term view of the price action and risk levels on the key markets so we will discuss our major markets and what we are looking for in the video.
We take a look at the following Key Indexes:-
Nasdaq, DOW, DAX, FTSE, ASX200, Hang Seng and the Nikkei.
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DAX to break to the upside?GER40 - 24h expiry
A break of bespoke resistance at 16000, and the move higher is already underway.
Trading close to the psychological 16000 level.
16000 has been pivotal.
Prices have reacted from 15704.
Daily signals are bullish.
The bias is to break to the upside.
We look to Buy a break of 16013 (stop at 15913)
Our profit targets will be 16263 and 16313
Resistance: 16000 / 16100 / 16200
Support: 15900 / 15830 / 15704
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SAP SE: A Mid- to Long-Term InvestmentSAP SE: A Mid- to Long-Term Investment
SAP SE
SAP SE is a German multinational software corporation that develops enterprise software. It is the world's largest independent software vendor by revenue. SAP's products are used by businesses of all sizes in over 180 countries.
Capitalization SAP's market capitalization is approximately $170 billion. The company is listed on the Frankfurt Stock Exchange and the New York Stock Exchange.
Current and Future Projects SAP is currently investing heavily in cloud computing and artificial intelligence. The company's cloud revenue is growing rapidly, and it is developing new products and services that use artificial intelligence to automate business processes and improve decision-making.
Some of SAP's current and future projects include:
SAP S/4HANA Cloud: This is SAP's flagship cloud-based enterprise resource planning (ERP) system. It is designed to help businesses of all sizes transform their operations and become more agile.
SAP Leonardo: This is SAP's suite of artificial intelligence (AI) solutions. It helps businesses to automate processes, improve decision-making, and make better use of data.
SAP Business Network: This is SAP's platform for connecting businesses with their customers, suppliers, and partners. It helps businesses to collaborate more effectively and improve their supply chain efficiency.
Stock Rating
I would rate SAP shares as a Strong Buy for the mid- to long-term. The company has a strong track record of financial performance, growth opportunities, and a strong brand.
It is also well-positioned to benefit from the growth of the cloud computing and artificial intelligence markets. However, there are some risks to consider before investing in SAP shares. These include:
Competition: SAP faces competition from other large enterprise software companies, such as Oracle and Microsoft.
Technology risk: SAP's business depends on its software products. If the company is not able to keep up with the latest technologies, it could lose market share to its competitors.
Geopolitical risk: SAP operates in many countries around the world. If there is a political crisis in any of these countries, it could disrupt the company's operations and its share price.
Overall, I believe that SAP shares are a good investment for investors who are looking for a company with a strong track record of financial performance, growth opportunities, and a strong brand. However, investors should be aware of the risks associated with investing in enterprise software stocks.
Conclusion SAP is a well-established company with a strong track record of financial performance. It is also well-positioned to benefit from the growth of the cloud computing and artificial intelligence markets. I believe that SAP shares are a good investment for the mid- to long-term. However, investors should be aware of the risks associated with investing in enterprise software stocks.
Risk Warning
Trading stocks and options is a risky activity and can result in losses. You should only trade if you understand the risks involved and are comfortable with the potential for losses.
Rating: Strong Buy
Risk Disclaimer!
The article and the data is for general information use only, not advice!
The Trade Academy Team - The Professional Trader
Risk Disclaimer!
General Risk Warning: Trading on the Financial Markets, Stock Exchange and all its asset derivatives is highly speculative and may not be suitable for all investors. Only invest with money you can afford to lose and ensure that you fully understand the risks involved. It is important that you understand how Trading and Investing on the stock exchange works and that you consider whether you can afford the high risk of loss.
DAX40 Will Rise much more HigherAs predicted some time ago
DAX 40 broke 16300
Now....
I have marked the next levels for you
Use proper stop
European stocks rose on Thursday, and Germany's DAX 40 index climbed nearly 1% to touch its highest level since January 2022, driven by the optimism surrounding the potential breakthrough in US debt ceiling talks, with expectations that a resolution could be reached as early as the upcoming weekend. In notable corporate news, Deutsche Bank reached an agreement to pay $75 million to settle a lawsuit filed by women who alleged they were victims of abuse by the late financier Jeffrey Epstein, and accused the German bank of facilitating his sex trafficking. Meanwhile, luxury fashion brand Burberry reported a notable 16% increase in Q4 comparable store sales, while Royal Mail posted an annual adjusted operating loss of £419 million, which surpassed market expectations. Additionally, telecommunications company BT Group announced plans for up to 55,000 job cuts, despite reporting a 5% rise in full-year adjusted core earnings.
DAX40 hourly breakdownWith the DAX making all time highs and now creating new levels of support, the best we can do is work with previous levels. When an instrument is making ATH's it is difficult to chart exactly where the next level of resistance will be, as it is all untested area and it's up to the market to decide just how overbought it really is before we can move down.
Looking at the DAX40 we can see several levels of strong support that may act as resistance in the future, such as the 16332.4 level which was the resistance created 2 months ago and is now acting as current support. Should we close blow this level, there is a no trade range that would be best to avoid purely due to price action potentially catching us out.
Closure below 16267.2 would be great for sells, as there is a clean range below here and typically in the past when price has closed below this level price moves down towards 16242 and 16196.
Deutsche Bank: Strong outlook 💪 Having completed the green wave B with its high in the last week of July, Deutsche Bank is now in a small correction that will complete the orange wave ii. Once this correction is over, our primary scenario is for a strong uptrend to break through resistance at 14.63€. If the price continues to fall, our alternative will be activated. According to this scenario, to which we assign a 35% probability, the price would move into our green target zone between 8.34€ and 5.60€, from where strong gains would also be imminent.
DAX Elliott Wave Analysis Higher Timeframe (06/08/2023)In our primary scenario we expect a bit more upside as a wave (5) to finish the higher level wave ((1)). For investors, we are in an area to take (partial) profits. Investors do not buy here as the data shows a bearish divergence. Investors should wait for a decent wave ((2)) pullback before buying again. Traders should analyze the lower timeframe.