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March 17, 2023
- The CCI indicator has fallen below -100 – a bearish signal
- Deutsche Bank is oversold according to the RSI
Over the last 6 days, Deutsche Bank has fallen 17.57%. Yesterday's session continued down the same path: during yesterday's session, Deutsche Bank toiled and struggled for upward momentum before closing at $10.32. By the close, the the German banking colossus suffered a 18 cents or 1.71% loss.
On a negative trend for around a month. Over the past a month, the German banking colossus has retreated 22.16% from a noteworthy peak of $13.49.
Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to momentum evaluation, the Relative Strength Index indicates Deutsche Bank is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. According to asset volatility analysis, Deutsche Bank's lower Bollinger Band® is at $10.89, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
All in all, the technical analysis suggests Deutsche Bank has no clear-cut direction.
Deutsche Bank was not the only decliner in the financials sector; The Charles Schwab closed at $57.88 (down 2.8%).
On the other hand, positive performances could be seen by looking at other financials stocks as HSBC Holdings was up 2.07%. JP Morgan Chase was up 1.94%.
