Deutsche Postbank AG : Continuation of a downtrend
October 09, 2012 at 01:17 pm IST
By
Entry price | Target | Stop-loss | Potential |
---|
€30.03 |
€0 |
€30.8 |
+100% |
---|
Deutsche Postbank AG could continue to decline towards the EUR 28.4 support.
The fundamentals remain very fragile. The security seems particularly overvalued relative to other securities in its sector.
Graphically, the share is back on the 20-day moving average after point out a year high at EUR 31.5. A consolidation phase could take place on these levels and can lead to a downward movement in case of breaking of this support.
Therefore, we can initiate a short position. The target price is fixed at EUR 28.41 and a stop loss will be set above the EUR 31.4.
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