IFX.DE - Opportunity for long positions

Infineon Technologies AG /IFX.DE/

Technical analysis

Long-term rising trend, correction to horizontal and diagonal support. Opportunity for long positions with stop about 12.00 euros.

Alternative scenario: If the price fails to keep its levels low and falls below the number of supports, a deeper correction and a 61.8% Fibonacci test is possible. If this level does not survive, the trend is considered inverted.

Comment: Rising long-term trend. Correction to strong levels of horizontal and diagonal support. These levels coincide with 50% Fibonacci, measured from bottom traffic on March 5, 2009 to the peak of 13.06.2018, making the zone even more valid. Formation of a price action signal - "morning star" of support levels - an indication that the correction is over and a resumption of the main move. The CCI 50 indicator comes out of over-sold levels and directs to zero. For a more conservative input, we are waiting for the indicator to rise to a positive territory, which will give us the final justification needed for a long position.

Infineon Technologies is a leader in the technology sector in Germany. Index fluctuations and speculation about the US-China trade war reflected a deep price correction, and now provides us with an excellent opportunity for positioning with a profitable risk / profit ratio.

Read more:

• US – Iran – Iraq tension remain the main driver of the stock market today
• How top market players on Wall St think 2020 will look like on financial markets
• Money Flow before the start of the new trading week
• Cincinnati Financial Corporation (CINF.US) -Opportunity for long positions
• Asia stocks gain as Fed signals no rate cuts in 2020