Deutsche Bank - Breakout of Symmetrical Triangle

Tuesday, 2018-12-25

Deutsche Bank - Current Downward Move coming to an end ?

Sunday, 2018-09-23

Price of Deutsche Bank dropped nearly by half from mid-December last year till end of June.
The daily chart shows price movement since begin of February with the up to now year low from end of June at about 8,75 €, followed by the up to now most significant High of this year from end of July at about 11,25 € and then the up to now first promising Higher Low of this year from begin of September at about 9,45 €. Since the formation of that Higher Low price went up about 1,00 € again, which is equivalent to an Upward Move of slightly more than 10 %. Thus the mentioned last High is only about another 70 Ct away.
Furthermore we see a yellow drawn Symmetric Triangle. Price currently remains only 20 Ct below the upper yellow BreakoutLine of that Symmetric Triangle, which is equivalent to a price move of barely 2 %.
We are already well into the consolidation within the Symmetric Triangle. Therefore a Breakout either to the upside or downside should be expected soon. Should the Breakout occur to the downside, what at least for the moment doesn't seem likely, then price could be expected to be hitting new All Time Lows soon after. On the other hand in case of a Breakout to the upside, a reasonable first Target would be situated in the price region between 12,00 € and 12,25 € and a second Target at about 13,50 €.
On the short side an Entry would not be recommended before price has taken out the Low at 8,75 € clearly. On the long side one should wait to see if price makes a pullback to the yellow lower line of the Symmetric Triangle, which acts as Support, before finally attempting a Breakout through the yellow upper line of the Symmetric Triangle, which acts as Resistance. Only when that Resistance is clearly broken, a Long-Entry would be recommended.