Short term view - COMMERZBANK : The moving average is supporting prices.
Our previous opinion was neutral.We turn positive with a target at 7,85 € and an invalidation level at 5,9 €.
The bullish trend resumes after the consolidation.
Arguments :
- Prices have pulled back to the support level (previously a resistance). The rise is now resuming....
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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