Long
Wirecard | in a macro bull trend - but obstacles ahead!
In the first month of 2020 $XETR:WDI showed some real momentum which lead the stock close to the border of the purple triangle. As expected the stock then started to consolidate in a small range which is actually a sign of strength.
When we take a look from a further point of view - we can see, that the stock is still in a channel which started somewhere back in the year 2009. This macro trend is still valid whereby the upper border of this channel is between 160€ and 170€.
By taking this fact into account - the next bullish target would be 160€ where the stock then should start to consolidate again. If the stock does not manage to break the triangle, we would expect an extended consolidation which might lead to another buy opportunity.
When we take a look from a further point of view - we can see, that the stock is still in a channel which started somewhere back in the year 2009. This macro trend is still valid whereby the upper border of this channel is between 160€ and 170€.
By taking this fact into account - the next bullish target would be 160€ where the stock then should start to consolidate again. If the stock does not manage to break the triangle, we would expect an extended consolidation which might lead to another buy opportunity.
Note
The price is now at a point, where the CRV is promising - so I am about to add some shares :). Whithin one month the KPMG report is about to released which most likely will push the stock towards the upper edge of the triangle.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.