Short term view - COMMERZBANK : The falling moving average confirms our opinion.
The trend has been momentarily interrupted by a correction. It approaches the resistance at €11.300, which also is the invalidation level. It should cause a fall and resume the bearish trend. The next target is at €9.150. The invalidation level is below €11.300.Arguments :
- Prices are pulling back to the major resistance level (previously a support). The fall will resume afterwards.
- The falling moving average confirms our opinion.
Commerzbank operates through five segments: Private Customers, which comprises the Private Customers, Direct Banking and Commerz Real divisions; Mittelstandsbank, which include the Mittelstand Germany, Corporate Banking & International and Financial Institutions divisions; Central and Eastern Europe, which consists of the universal and regional banking and direct banking activities; Corporates and Markets, which consists the Equity Markets & Commodities, Fixed Income & Currencies, Corporate Finance and Credit Portfolio Management divisions; as well as Non-Core Assets, which includes the operations of CRE Banking Germany, CRE Banking International, Public Finance and Deutsche Schiffsbank.
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