As we can see from the chart, on 17th March, the price reached to the highest point since 2008 of 48 dollars and then dropped to around 30 dollars again. We can also see a triangle in the chart that the upper trendline is formed by connecting the three highs, while the lower trendline is formed by connecting the two lows. It seems likely that the price will touch again for the third time the lower trendline at around 31 dollars which makes it a strong support level for the stock. If the price reaction will be positive the next resistance will be again the upper trendline at around 36 dollars in the short-term till mid-term. I consider the last highest high on 17th March as a mid-term resistance level for the stock. Considering a stop loss at around 29.5 dollars and a target of around 40 dollars, would be a reasonable target for trading for the stock.
if you are interested in the fundamentals of Volkswagen stock, please check the link in this post I published in my Linkedin.
if you are interested in the fundamentals of Volkswagen stock, please check the link in this post I published in my Linkedin.