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April 22, 2023
- Next support is currently 12 cents away at $10.76
- Bollinger analysis indicates upper Band® is at $11.26
Stable at $10.88 and still trending upwards, Yesterday's session put the brakes on the ongoing uptrend — Deutsche Bank recovered back to $10.88 after dipping down to $10.8, in a session that followed Thursday's $10.9 close value.
The German banking giant has fallen back around 19.2% over the past 2 months, from a notable high of $13.49.
Deutsche Bank AG's upper Bollinger Band® is at $11.26, suggesting that a downward move may follow. On the other hand, note that Deutsche Bank is approaching key support, around 12 cents away from $10.76. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite the market lacking direction, technical chart analysis strongly suggests Deutsche Bank is positioned for a downward move in the near term.
Fundamental indicators – United States Services PMI came out at 53.7, while a consensus of analysts was expecting 51.5.
Meanwhile, mixed performances were seen by other financials stocks as The Blackstone Group Inc. closed at $89.45 (down 2.71%). BlackRock went down to $680.94, losing 2.22% after it closed at $696.38 yesterday. HDFC Bank Limited traded at $70.89 after closing yesterday's trading day at $69.84 (up 1.5%).
