| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 118.15 |
| Take Profit | 108.50 |
| Stop Loss | 121.00 |
| Key Levels | 108.50, 118.20, 125.50, 136.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 125.55 |
| Take Profit | 136.00 |
| Stop Loss | 122.00 |
| Key Levels | 108.50, 118.20, 125.50, 136.00 |
Current trend
The securities of the German automobile corporation Volkswagen AG enhance the global correction and are trading at just above 120 euro per share.
A series of failures in the IT infrastructure of automakers around the world continued and, a month after the global failure in the Toyota infrastructure, this also happened at Volkswagen enterprises in Germany, as a result of which work was stopped for several hours at all enterprises of the group in the country. After the failure has been eliminated, all systems are operating normally and the company has so far stated that there is no evidence that the failure was caused by external influence.
The German automaker continues to compete flexibly in the Indian market: following the main competitors Hyundai and CRETA, Volkswagen AG has raised prices for its best-selling models, Taigun and Virtus. The average price increase was from 25K to 27K rupees.
The company will publish its next report on October 26: revenue is expected to be 74.03B euro, which is lower than 80.06B a quarter earlier, and earnings per share are expected to be around 7.26 euro (6.48 euro in the previous reporting period). Forecasts were slightly against earlier estimates, when revenue was expected at 73.01B euro.
Support and resistance
On the D1 chart, the asset continues to adjust in the global downward channel, holding slightly above the year's low, located at 118.00.
Technical indicators continue to keep a stable sell signal: fast EMAS of the Alligator indicator are significantly lower than the signal one, and the AO histogram, being in the sell zone, forms new correction bars.
Support levels: 118.20, 108.50.
Resistance levels: 125.50, 136.00.
Trading tips
If the asset continues declining, and the price consolidates below the local support level at 118.20, short positions can be opened with the target at 108.50. Stop-loss – 121.00. Implementation time: 7 days and more.
If the asset continues to grow and consolidates above the resistance level at 125.50, long positions may be opened with the target at 136.00 and stop-loss at 122.00.
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