Short term view - VOLKSWAGEN AG PFD : New high
The trend is still bullish. No indicator nor pattern are questioning it. The invalidation is below €161.70. The target is at €193.30Arguments :
- Prices have pulled back to the major support level (previously a resistance). The rise is now resuming.
- Prices made a new high, this confirms the strength of the trend.
- The moving average is supporting prices.
- The reaction at the resistance is weak, we anticipate its break soon.
Volkswagen the parent company of the Volkswagen Group. It develops vehicles and components for the Group's brands, and produces and sells vehicles such as passenger cars and light commercial vehicles for the Volkswagen Passenger Cars and Volkswagen Commercial Vehicles brands. In the electricity sector, Co. performs electricity generation, sales and distribution together with a Group subsidiary. Western Europe, China, Brazil, the U.S., Russia, Mexico and Argentina are the key markets of the Group. The automotive division comprises the passenger cars, commercial vehicles, and power engineering segments, while the financial services division corresponds to the financial services segment.
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