As the bearish trend is slowing down we can expect another touch on the upper trendline and possibly a break for which out target will be around the 7,85 area.
Only looking on chart and without the following fundamental things in mind: feelings, financial crisis 2.0, zero or negative interest rates, margin erosion, Dr. Markus Krall, Zombibanken, personnel overcapacities, Overbanking - too many branches, target 2 balances, Google Pay, Paypal, Alipay, Payoneer, Skrill, WePay, Wirecard, Adyen , FinTecs, IoT , Blockchain,...
Currently Commerzbank AG is oversold on the 2 h. chart. We don't think it will drop any much further. Price target is currently 25% above current price.
Daily long setup on CBK with higher timeframe confluence. Stop buy for entry.
I would say its worth it to wait a little and go in a long in this case. Although, this seems like a very complex correction ( coming from 300$ in 08 to 7$ in 2018) but I'd say given the previous support its worth it to go for along aiming the previous long time resistance. very long time play of course
The reason to get in was that the stock was performing relatively weak to other stocks from the banking sector and market in general, longterm downtrend on the daily chart and approaching the previous day low (which wasn't broken eventually). Stop loss based on intraday's high formed not long after opening. Profit target around November 7 lows. (Posted post-factum)
CFD's COMMERZBANK 1hr & 4hr. Bullish Cypher Pattern Forming. Good luck!
My own designed indicators sends a buy signal for the German Commerzbank.
Strong downward momentum with a clear downtrend. Additionally, former support line might play out as new resistance. Buying into correction on next open. As bigger picture shows sideway movement not speculating on break of larger low at about 5.50. More aggressive target would be 5.80.
Ideally we should test 8.4 Region before the next upturn.
Strong downward momentum with a clear downtrend. Buying into correction on 1W-frame. As bigger picture shows sideway movement not speculating on break of larger low.
It broke through several resistance levels and trendlines. More often, it will break through the Long Term negative trendline which will mean that it will reach its old targets of 12+. However, I will be selling at 12. Please contact me if there are any uncertainties. uk.tradingview.com
We might see a nice up move at the trend line. Don't care about the fundamentals, there is to much software-trading going on in these days. The technical ages are back, so make sure to focus. Only my opinion, so make your own research and like always May the markets be with us
Analyzing the weekly chart, we have zero doubt about the upcoming direction. First target for our BEARISH strategy is 8.40, where there is still a gap up to be closed. See you soon with new trading ideas, Simone
It seems that they are finally approaching the border of the underworld. Has been moving in a determined and strong way which makes me believe that in the next two months it will probably cross the barrier of 13.80. If so, it could be a very special year for Commerzbank. Best wishes to all!!