Dusseldorf The German stock market is down on Thursday. The leading index Dax is down 1.3 percent at noon and is trading at 14,977 points, a drop of over 200 points.
After an increase of over nine percent since the beginning of the year, a consolidation on the German stock market should not come as a surprise. Thomas Altmann from the investment house QC Partners thinks it is “rational to make a profit now”. As long as the newly conquered and now psychologically particularly important 15,000 point mark is maintained, “nothing will go wrong in a consolidation”.
According to chart technology, a sustained break of the 14,800 mark is likely to weigh more heavily. If prices fall below this range for a long time, the risk of a long-lasting consolidation or even a correction, a decline of more than ten percent, increases. Jörg Scherer, head of technical analysis at HSBC Germany, recommends that investors adjust the stop loss for existing commitments to the level of the early October low of 14,819 points.
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