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DE 30 Technical Analysis - DE 30 Trading: 2020-03-06
DAX Index Technical Analysis Summary
Below 11623.13
Sell Stop
Above 12287.85
Stop Loss
| Indicator | Signal |
| Stochastic | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(200) | Sell |
| Fractals | Neutral |
| Parabolic SAR | Sell |
DAX Index Chart Analysis
DAX Index Technical Analysis
On the daily timeframe DE30: D1 has fallen below 200-day moving average MA(200) which has leveled off. We believe the bearish momentum will continue after the price breaches below the lowerr Donchian boundary at 11623.13. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 12287.85. After placing the pending order the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (12287.85) without reaching the order (11623.13) we recommend cancelling the order: the market sustains internal changes which were not taken into account.
Fundamental Analysis of Indices - DAX Index
Continued global expansion of coronavirus infection takes a toll on export oriented German economy. Will the DE30 decline continue?
Recent German economic data after the Destatis statistics office reported slower annual growth in fourth quarter of 2019 were mixed: activities in private sector slowed expansion in February, consumer sentiment weakened in March. At the same time data showed retail sales growth ticked up in January, followed by continued rise in construction PMI in February pointing to continued expansion in construction activity. Markit’s Composite PMI declined to 50.7 from 51.2 in January, with the contraction in manufacturing sector continuing while the services sector expansion slowed. Meanwhile the GfK consumer sentiment indicator edged down to 9.8 heading into March 2020 from an eight-month high of 9.9 in February as income expectations and willingness to buy fell on the back of concerns over the impact of the coronavirus outbreak on export oriented German economy. And as the authorities in every single nation endeavor to protect their economies from the toll of the expanding spread of coronavirus infection, worsening disruptions to global business from the coronavirus beyond China are bearish for German stock market index.
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