Today I sold my shares in Volkswagen AG
VOW3
after the last couple of weeks the share price surged.
The share price surged on news that the company plans to build 6 battery factories by 2030 to secure battery demand for the ambitious EV plans that the company has.
For now, I think the share price has reached a top around the resistance level of 260, which is the all-time high before the diesel gate took over.
The share price could correct to the support level of 190, but I expect it to set a bottom at a higher level before breaking the 260 resistance level.
Fundamentally, I think diesel gate was one of the best things to happen for VW.
After diesel gate VW is the first major car producer which shifted focus on EV production.
This will really be a benefit for VW in the coming years ans the company can gain market share from other conventional car producers which are slower in the adoption of EV.
To be clear, my strategy is neutral at the moment because of the overbought price condition. For the long term I consider VW as clear buy. I plan to buy the dip in the next few weeks/months.
VOW3
after the last couple of weeks the share price surged. The share price surged on news that the company plans to build 6 battery factories by 2030 to secure battery demand for the ambitious EV plans that the company has.
For now, I think the share price has reached a top around the resistance level of 260, which is the all-time high before the diesel gate took over.
The share price could correct to the support level of 190, but I expect it to set a bottom at a higher level before breaking the 260 resistance level.
Fundamentally, I think diesel gate was one of the best things to happen for VW.
After diesel gate VW is the first major car producer which shifted focus on EV production.
This will really be a benefit for VW in the coming years ans the company can gain market share from other conventional car producers which are slower in the adoption of EV.
To be clear, my strategy is neutral at the moment because of the overbought price condition. For the long term I consider VW as clear buy. I plan to buy the dip in the next few weeks/months.