Germany's largest carmaker and DAX40 group Volkswagen did not perform well on the stock market in recent months and the share price went south. Since the beginning of the Ukraine war, the price lost slightly over 50% or 126€.
On the overarching chart picture, however, this sell-off is only part of an overarching correction according to my assessment. The market is catching its breath to be able to survive the upcoming wave 3 well.
Due to the current market situation on the indices, especially the strong sell-off in the German economy, the price will probably come down to the 0.887 retracement at the 99€, before the trend direction of the market turns.
From there, a price increase of at least 300% is possible on a multi-year level. The 1.618 extension is at 396€ per share.
On the overarching chart picture, however, this sell-off is only part of an overarching correction according to my assessment. The market is catching its breath to be able to survive the upcoming wave 3 well.
Due to the current market situation on the indices, especially the strong sell-off in the German economy, the price will probably come down to the 0.887 retracement at the 99€, before the trend direction of the market turns.
From there, a price increase of at least 300% is possible on a multi-year level. The 1.618 extension is at 396€ per share.