QuantitativeExhaustion

Nearing Another Oversold Stage, Looking for Entry

NYSE:DB   DEUTSCHE BANK AG
Previous pattern, Inverted Head and Shoulder, breakout was diverted by strong resistance around 36.70. Since the previous pattern busted, price has been coming down fast, we've already broke below the neckline support and are heading towards the previous low where the Head of the Inverted H&S stood at 27.85.

Double Bottom Possibility

To characterize as a Double Bottom Pattern, the second low can not go 3 degrees below the previous low. 27.00 is about where one would put in stop if we do spend time below $28.00.


Increased EU QE for June-July months shall help soften the blow if Greece should default on debt next month. However, DB             does not hold much Greece bonds, but the German bank has caught a negative fever by European investors fearing the looming Greece default.
Comment:

Dilution Dilution Dilution

and Banks are eating NIRP

I predict eventually 0 if NIRP is continued through 2018


Small pop, not much left in this bullish move. Divergence still relevant.
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Good opportunity here to buy puts. I bought a small position on 29 June exp Puts. Will reverse the trade once we hit 27.7 area.
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Great analysis and comments on this stock. Can you explain what you mean by price can not go lower then 3 degrees below the previous low? How do you measure the 3 degrees. Thank you!
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General rule for double bottoms, 3 degrees can be measured with an angled line, it can also be measured as a % of previous low. Previous low was 27.85 so 3% range can be 84 cents higher 28.73 or lower at 27.00
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projection
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So we need a lot new demand to be able to break descending resistance line. Well the new demand is the ECB so should not be a problem.
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Agree on the possible bounce around 28.

1D view:


1W view:
+3 Reply
That's good, because now with ECB QE implemented and ECB members sounding even more dovish, this makes DB a better buy than the previous bottom at 27.85. I would expect a higher high bounce off of this low.
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