dusseldorf Friendly opening of listing on the German stock market: Der dax approaches the 15,000 point mark again on Friday. The leading index was around this level in the first hour of trading, up 0.4 percent.

The previous day there had been a significant drop of 1.7 percent. Movements of this type could happen again and again in the current phase of the market. After all the dax increased significantly in a very short time. It has lost just over two per cent from the most recent rally’s high of 15,270 points.

The area around 15,000 meters is currently of great interest. For one thing, the first stop-loss marks, which investors use to hedge against falling stock prices, are likely to be just below the rounded level.

On the other hand, there could be fresh buying interest near the round level. The Dax managed to jump over 15,000 points very quickly; not all investors participated as desired. Some of those who initially missed their opportunity could use minor hiccups to get in and thus stabilize the broader market.

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Patience is an important virtue. In the week before and after Christmas, the leading index had been sideways for days around the round 14,000 level at that time. Those who had staying power were rewarded with the following course increases.

The number of impulses expected on Friday is quite small. The small expiration date could cause price movements. On those days, futures contracts on the main German index and on individual stocks expire. Investors strive to achieve a result that is favorable to them. On the longer expiration days, also known as Halloween, more futures contracts expire, so the impact on trading is even greater.

Data from the Stockstreet website shows that by far the largest call option on Dax (investors use this product to bet on rising prices) is just 15,000 points. If the settlement price were above this level, the buyers of these calls would make a profit. Otherwise, they would expire worthless.

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Central bank interest rate policy continues to have the greatest influence on share prices. The Governing Council of the European Central Bank (ECB) is vehemently trying to counter speculation that interest rates will be cut.

Federal Reserve Chairman cristina lagarde made clear the day before at the World Economic Forum in Davos that interest rates in the euro area continue to rise. In an unusual tone for her, she said, markets would do well to reconsider their position, putting further pressure on stocks and bonds. Lagarde will perform again in Davos on Friday.

The starting position has barely changed. the ECB made it clear in December that it intends to raise interest rates by 50 basis points in the short term. Abandoning this strategy in the short term would jeopardize its credibility.

A 50 basis point increase in February is assumed and is also the base case for the penultimate decision in mid-March. The mood around this date then depends to a large extent on whether the downward trend in inflation is confirmed in the months of January and February.

“The cheap money outlook from central banks is like a honey trap that investors get caught in,” says Jochen Stanzl of CMC Markets, describing the situation. “Although those responsible tremble fed [US-Notenbank, d. Red.] Y ECB over and over again and some investors who are too speculative fall off. However, two or three days later, they stay again because they see the weaker inflation data as confirmation.”

What the graph technique says

From a technical point of view, a healthy consolidation would also do the Dax good after the dynamic rally and nine percent gain since the start of the year.

At the top, the area around 15,365 points is interesting in the medium term. There is additional technical support in the area around 14,800 points. In the short term, the current price level around 14,980 points is relevant, and there is support there as well.

The Dax manages to consolidate above important average lines such as the 100 and 200 days. These mainly serve as guidance for investors in the medium and long term. The bullish technical trend since November is still intact, sums up Martin Utschneider of the private bank Donner & Reuschel.

Here is the page with it dax courseare here current successes and failures in the Dax.

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