ENTRY: 132. 40 EUR
TARGET: 83.55 EUR (37% profit)
STOP: 154.45 EUR
1.) Technically a formation could form.
2.) 135.00 EUR is a significant . Rejection expected!
3.) As expected, the battery manufacturer's start to the year was weak.
4.) VARTA and Allgäu Batterie enter into partnership for lithium-ion battery packs.
5.) VARTA develops mobile energy packages for everything from headphones to car
Next point why the draw down happened that hard, Varte a has one of the most short sellers pressing down the price by selling empty stocks to cover his shorts.
If the buy preasure kills all that shorts we will see a squeeze likely to 180 again.
Sorry but here is not only the chart telling the story more in fundamental parts to see here ;)
Furthermore this is far away from a clean h&S formation.