BradtNom

Porsche - rally like it's 2017/18?

Long
XETR:PAH3   PORSCHE AUTOM.HLDG VZO
Porsche AG, is a German automobile manufacturer specializing in high-performance sports cars, SUVs and sedans. The Porsche chart is ultra-bullish, the share price being in breakout mode since mid-Feb 2021 from 62.12. The RSI is in overbought territory, the green Heikin-Ashi candles are getting smaller. This latter condition indicates that the breakout is loosing momentum, and the price may correct. The price is already nearly 10% above the last pre-Corona pandemic high around 70.54. The question is though, will Porsche repeat the 2017/18 rally? The price during end 2017 to early 2018 was also in a long up-swing, with smaller corrections on the way up. If this is a repeat of the same cycle, then smaller corrections on the up-cycle can be expected. Keen to know what others think. Please leave a comment or link to your own ideas! Charts are for information purposes only. Not trade suggestions. DYOR (Do your own research) - act responsibly with your money.
Comment: Porsche gained 24% since this chart was posted. It is now at a high not seen since early April 2015, and has done this in just three months, with the outbreak to the upside starting in mid-January 2021. The question is now whether it will simply continue the rally, or return below the resistance turned support, to touch the upside resistance line of the highs connecting 2015, 2018, and 2020.