Frankfurt The price losses on the German stock market continue. The Dax already gave up the 16,000 point mark on yesterday’s trading day and is now slipping further. In afternoon trading, the Dax was at 15,693 points, a drop of 1.5 percent or the equivalent of 240 points. Today’s low for the day is 15,691 points, the lowest since late May 2023.
The focus is now on the important support area of 15,700/15,600 points. The leading German index has defended this area several times since the beginning of April.
If the leading index slips below this mark, further price losses are likely to follow, but at the same time that would probably also be the beginning of the search for favorable entry prices. That is why Jörg Scherer, head of technical analysis at HSBC Germany, recommends this area as a stop-loss mark in order to secure the profits of the stock market year 2023.
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