I expect BASF to drop together with the whole market within the next few days. On the bottom side I see space up to EUR 44,60, following the trend line. A following recovery seems to be likely as well.
Trade Safe! Don`t be greedy! Take care and place small trades! If necessary, I will place more long trades at this asset! All new information or recommendations I will post on the comment section of this idea! In my opinion, this stock is at a good opportunity and has good potential for the stock price to go up!
HI BIG PLAYERS, on this BASF chart I want present you my assumption for a developing Wolfe Wave pattern. Currently BASF is fighting against court decisions. This is why I think, the next 3 months it will be a shortsetup. After this, BASF will touch the support line. It is close to develop a bullish Wolfe Wave pattern and start a huge rising up movement....
This is purely based on machine learning - but the mental model also triangulates nicely. The dip of the spread is at a 16 year low, BASF has strong fundamentals with a 5% dividend, exposure to agriculture and chemicals and there are strong components of value investing in this leg of the trade. SAP is loosing share in the cloud battle, has a much higher cost...
BASF SE engages in the provision of chemical products. It operates through the following segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and Care, Agricultural Solutions, and Other. The Chemicals segment supplies petrochemicals and intermediates. The Materials segment includes isocyanates and polyamides as well as inorganic...
Macro German industry in freefall - ESI Lower & PMIs lower. Consumer confidence lower, the chemical industry relies heavily on consumer products. China PMIs lower again. Micro 60% of sales are based in China/Europe new orders slowing "In China, the world’s largest automotive market, the decrease was more than twice as high, at around 13%." Profit warning 30%...
Bullish RSI divergence, support fractal and BB indicate a long entry. Supported by leading alligator curling upwards. SL goes below recent swing low.
The bootom building has been finished soon with a new low.
BASF is for over 20 years in an exponential growing channel. General retraces always included a 45% decline. Time to buy low?
Maybe this is too simple... There could be an oversold bounce before...
XETR:BAS Bullish Divergence could occur on BASF and needs to be watched. This goes against a weekly downtrend, so would be a short term bet to profit from the upswing. As soon as MACD ticks up from now again so completes the divergence and is a buying signal.
Hold and enter Short positions as soon as direction is confirmed
Just a good company on the support line of its weekly uptrend, seems like the swing low to me. I am building my position in the current range.