Following last week's all-time high, the DAX is now at risk of turning lower and falling back below the 24,000-point mark. Although the index closed slightly positive yesterday, Thursday, the leading index gave up ground in after-hours trading, raising fears of a further sell-off at today's open.
The main drag came from US markets, which reacted sensitively to disappointing results from smaller regional banks, putting pressure on the DAX. Furthermore, there is no positive news in the tariff dispute with China, dampening investors' appetite for major stock market investments. The German blue-chip index has been under pressure all week, and this could be released before the weekend, especially if the 24,000-point level cannot be quickly reclaimed.
Symrise Strong – Daimler Truck Shows a Glimmer of Hope
Investors who bought into Symrise stock were able to profit yesterday. The security gained 4.1 percent, placing it at the top of the DAX list ahead of Infineon AG, which still managed a gain of 2.3 percent. Daimler Truck finished third. However, Daimler Truck remains trapped in its downtrend. A sustained base formation cannot yet be confirmed here.
DAX Faces Weak Weekly Close
The technical chart of the DAX looks strained. The index appears to be losing ground and may drop further. A loss day is shaping up for today, Friday, which would result in a deep red weekly candle, severely clouding the technical outlook. Investors should brace for a volatile and potentially weak end to the week.
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