DAI.DE Our expectations: The negative moods in the Auto industry are still actual and the shares of Daimler are showing descending price movement. Break below 66 and a flag formation on 64.70 are increasing the probability for a decrease. Possible short near 64.70 for a better positioning and a shorter stop loss.
Alternative scenario: If the price goes above 66.81 this will spoil the negative formation and we can turn our positions to long.
Comment: A break of the diagonal support, test of the break and new negative technical signal for possible downside: flag
Price action signal for decrease: Bearish engulfing
Pin bar on a resistance level
Break of the down shoulder of the flag
Possible sell from current price, but it may be better to wait little correction to 64.70 for better positioning.
Стефан Д. Ангелов - Head of Stocks Trading
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