Technical Analysis of Mercedes-Benz Group AG (MBG)### Technical Analysis of Mercedes-Benz Group AG (MBG)
#### Overview
The chart shows the daily price movement of Mercedes-Benz Group AG, indicating significant technical levels and trends. Key aspects include the Fibonacci retracement levels, support and resistance lines, and trend lines.
#### Fibonacci Retracement Levels
The Fibonacci retracement levels are drawn from the swing low around the end of 2020 to the swing high in early 2022. The key levels are:
- **0.236 (60.77 EUR)**
- **0.382 (63.95 EUR)**
- **0.5 (66.53 EUR)**
- **0.618 (69.11 EUR)**
- **0.786 (72.77 EUR)**
These levels often act as potential support and resistance zones.
#### Current Price Action
The current price is around **64.98 EUR**, slightly above the 0.382 Fibonacci retracement level (63.95 EUR), suggesting that this level may act as support. The recent price action shows a decline from the highs near the 0.786 level (72.77 EUR), testing lower support levels.
#### Trend Lines
The chart indicates a long-term ascending trend line starting from the lows of early 2020, intersecting with the 0.236 Fibonacci level around **60.77 EUR**. There is also a shorter-term ascending trend line from early 2023, providing additional support levels.
#### Resistance Levels
- **66.53 EUR (0.5 Fibonacci level)**
- **69.11 EUR (0.618 Fibonacci level)**
- **72.77 EUR (0.786 Fibonacci level)**
These levels are crucial to monitor as potential resistance if the price attempts to move higher.
#### Support Levels
- **63.95 EUR (0.382 Fibonacci level)**
- **60.77 EUR (0.236 Fibonacci level)**
The ascending trend line also provides dynamic support around these levels.
#### Projection
Given the current positioning, the price might continue to test the 0.382 Fibonacci level (63.95 EUR) for support. If this level holds, a potential rebound towards 66.53 EUR or higher might occur. Conversely, a break below 63.95 EUR could see the price testing the next support around 60.77 EUR, where the ascending trend line also provides a confluence of support.
### Conclusion
Mercedes-Benz Group AG (MBG) is currently in a consolidation phase, with key support at 63.95 EUR and resistance around 66.53 EUR. Traders should watch these levels for potential breakout or breakdown scenarios, keeping an eye on the broader market trends and any significant news that might impact the stock.
### Disclaimer
This analysis is just an opinion and should not be considered as financial advice. Trading stocks involves risk, and you should do your own research or consult a financial advisor before making any investment decisions. Any profit or loss is the responsibility of the audience, and I do not take any responsibility in this regard.
