Technical outlook:
CKB.de bullish scenario:
We have technical figure Triangle in German company Commerzbank Aktiengesellschaft (CKB.de) at daily chart. Commerzbank Aktiengesellschaft is a major German bank operating as a universal bank, headquartered in Frankfurt am Main. In the 2019 financial year, the bank was the second largest in Germany by the total value of its balance sheet. The bank is present in more than 50 countries around the world and provides almost a third of Germany's trade finance. The Triangle has broken through the resistance line at 11/11/2020, if the price holds above this level we can have possible bullish price movement with forecast for the next 61 days towards 5.584 EUR. Our stop loss order should be placed at 3.960 EUR if we decide to enter this position.
Fundamentals:
- Germany's Commerzbank CBKG.DE swung to a third-quarter loss, as it dealt with fallout from the coronavirus crisis and continued a restructuring programme. Commerzbank has been under pressure from one of its largest shareholders, the private equity investor Cerberus, to carry out an overhaul.The bank was left leaderless over the summer when the chief executive and chairman stepped down to give Commerzbank a fresh start.
CKB.de bullish scenario:
We have technical figure Triangle in German company Commerzbank Aktiengesellschaft (CKB.de) at daily chart. Commerzbank Aktiengesellschaft is a major German bank operating as a universal bank, headquartered in Frankfurt am Main. In the 2019 financial year, the bank was the second largest in Germany by the total value of its balance sheet. The bank is present in more than 50 countries around the world and provides almost a third of Germany's trade finance. The Triangle has broken through the resistance line at 11/11/2020, if the price holds above this level we can have possible bullish price movement with forecast for the next 61 days towards 5.584 EUR. Our stop loss order should be placed at 3.960 EUR if we decide to enter this position.
Fundamentals:
- Germany's Commerzbank CBKG.DE swung to a third-quarter loss, as it dealt with fallout from the coronavirus crisis and continued a restructuring programme. Commerzbank has been under pressure from one of its largest shareholders, the private equity investor Cerberus, to carry out an overhaul.The bank was left leaderless over the summer when the chief executive and chairman stepped down to give Commerzbank a fresh start.