4CBK trade ideas
Commerzbank reached interesting action pointToday there are rumours in the market that Deutsche Bank would be interested in Buying Commerzbank - so the stock is strong bullish today.
The very poor longterm Chart is bearish. Earlier this year we dipped deep down to 6,3€, consolidated a bit up to 8,6€ and then reassumed the downtrend. In july this supportlevel at 6,3 was tested again, but the first buyingwave could not last, we have seen a bo through this Level down to 5,13€. Today we have reached this interesting nioveau again -for me it is a clear Action Point where a decision has to be made.
Furthermore you can see a bullish wedge. . If this patttern would be activated, Prices round about 8,25€ can be exspected.
Watch the RSI, he signs an upcoming overbought Situation - the BBs also were hitted.
resists: 6,4/7.11/7,85/8,3/8,58
supports:6,02/5,9/5,63/5,13
