Today’s instrument is the Volkswagen AG‘s stock traded on the Xetra exchange under the ticker VOW.
When we look at the VOW‘s chart, we can see the fall from the €188 range to €184 on the 24th of May and ultimately in the €181 level where it found support. Early on the 26th of May session, it started to climb slowly attempting to reverse the trend. It bounced back up in the €186 range and on the 27th it rallied from the €186 breaking the €190 overhead resistance and closing the session strongly in the €196 range and where it was last found trading.
Today we can expect a move above the €196, breaking the resistance and moving into the €205 range.
If however, it doesn’t manage to hold on to the current level, then a move towards the €190 closest support level can be expected.
(Click on image to enlarge)
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