The leading German index has already reached several new record highs this year.
(Photo: Bloomberg Creative / Getty Images [M])
Dusseldorf After the significant gains of the previous days, a breather is due on the German stock market. In the first hour of trading, the Dax is 0.1 percent plus and is at 15,480 points. Before the trading session, the stock market barometer was already quoted at 15,534 points. The Frankfurt benchmark ended yesterday’s trading day 1.4 percent up at 15,462 points.
But it would be a surprise if the German stock market barometer continued to rise on today’s trading day or even closed at a price above 15,600 meters. Because that would be a signal for further gains towards 16,000 points.
Since the low of 14,818 points on Wednesday last week, the Dax has risen almost 700 points. For Martin Utschneider, technical analyst at the private bank Donner & Reuschel, the stock market barometer is “out of the woods”, but he sees “no final trend reversal yet”. Especially since the index is overbought, i.e. it has risen too high too quickly, which is more likely to encourage sales.
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