Bad days for Deutsche Bank continues - Is it time for Short !?

Deutsche Bank announced its financial results for Q1 in 2018, showing far worse than investors. The net profit after tax of the bank decreased to € 120m. or 79% lower than last year.

The Bank has announced plans to significantly reduce the workforce by the end of the year, especially in investment banks. The aim is to reduce bond and stock trading operations, mainly in the US and Asia.

Can we take advantage of this? It seems like yes!

The foundation around the bank is negative and there are no two opinions on the issue. However, current levels also provide a good opportunity for inclusion in the short-term trend. The price is in a descending channel, and after bad financial reports and deepening problems I expect the bearish momentum to remain. The price is currently at key levels of resistance, formed by a horizontal, diagonal, 23.6% Fibonacci correction and 50SMA. In addition, we also have an internal bar - high turn signal in the shares. DeMarker points down from a surplus zone - probably the end of the corrective movement. Upon opening today, I expect Gap to build in a downward direction, which will further aggravate the negative sentiment.

SL: €12.73

Alternative Scenario: If the price goes above the resistance zone and stays there in several successive bars. the negative scenario will break and we are more likely to see stock price growth.

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