Current trend structure: bearish in down trend channel Currently testing important resistance
How bad is the European banking sector? New statements from the ranks of the European Central Bank suggest that the financial institutions on the home continent may once again hope for the help of the ECB. Whether they depend on it is another matter. There are signs for bearish trend continuation and that is not really reassuring.
The latest news from the European banking scene suggests that the money houses are not doing very well. This is also stated by ECB chief economist Peter Praet. According to him, the banks are not profitable in the euro area. There is a danger that they could increase the downward trend of the economy through pro-cyclical behavior. One solution could be new long-term refinancing operations (TLTROs). "The discussion will soon take place in the Council of the ECB."
@azuolas, price shooted up because 135.000 shares were bought by board members of Deutsche Bank two days ago....Now is price testing strong resistance, I expect correction down to old red stop loss line. If price should break down the uptrend channel and close under this line expect down movement 7.40. I am in generell bearish for Deutsche Bank and other European banks but I would have to write a half book here to explain that more detailed ;)
azuolas
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@DannyKadiric, it means time to buy all in
DK_Investment
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@azuolas, good luck to you, you´ll need it. German banks are more than dead....
azuolas
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@DannyKadiric, as German economy. Which is no 1. See trade balance. It is opposite to USA which is at the bottom.
DK_Investment
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@azuolas, Have you ever heard of the gross domestic product? Germany is definitely not in the first place if you compare with other trade balances. My main argument is that germany's old money creators (cars and precision parts) are slowly reaching the end of their product life cycle and that germany is not coming up with innovative asian countrys. 5-10 years and China can produce almost same quality like EU.
German banks are not at all or only poorly positioned for industry 4.0. Furthermore the German Bank in particular has so many open dispute cases and fines worth billions....
And US companys are still overvalued (only Amazon is near fair value)...
DK_Investment
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@azuolas, How´s your investment going on xD Hope you did not realised what you´ve written. You are welcome to enter my trading group in Telegram. Don´t judge someone in relation to only one analysis, check my other analysis and you will see I have brought nice profits to the people...
azuolas
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@DannyKadiric, doing great but you shmartass doing greater :))