jopre0502
Short

$VAR1: Bear Pennant closing down indicating price break

XETR:VAR1   VARTA AG O.N
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5
Bear Pennant focusing on 76 EUR. Level of 76 EUR was tested several times. Formation of a spring at 80.75 EUR.
Volume is decreasing indicating a supply shortage in addition with increasing prices representing a disharmony of effort ( volume ) and result (price).
We observe a support/resistance flip on ema_8d lately.
Same behaviour might happen on ema_20d and 50d.

Target Zone: 60 EUR / 50 EUR
Entry Price: 70 EUR
Stop Loss: 75 EUR

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