Technical outlook:
VOW3.de bullish scenario:
We have technical figure Channel Down in German company Volkswagen AG (VOW3.de) at daily chart. Volkswagen AG is a German multinational automotive manufacturing corporation. It designs, manufactures and distributes passenger and commercial vehicles, motorcycles, engines, and turbomachinery and offers related services including financing, leasing and fleet management. In 2016, it was the world's largest automaker by sales, overtaking Toyota and keeping this title in 2017, 2018 and 2019, selling 10.9 million vehicles. The Channel Down has broken through the resistance line at 17/11/2020, if the price holds above this level we can have possible bullish price movement with forecast for the next 25 days towards 161.000 EUR. Our stop loss order should be placed at 122.96 EUR if we decide to enter this position.
Fundamentals:
- Volkswagen on Wednesday said the German government's 3 billion euro ($3.57 billion) scheme to support low-emission cars sent a strong signal Berlin would help lift the country's key export industry out of the coronavirus and climate crises.
- Volkswagen is paring back the variety of combustion-engined cars and retooling more factories to build electric vehicles in an effort to keep up with rival Tesla, the chief executive of the world's largest carmaker said. German factories in Emden and Hanover will be converted to build electric cars as part of a 73 billion euros ($86 billion) investment plan to ramp up development of zero-emission and self-driving cars, the company said on Monday.
VOW3.de bullish scenario:
We have technical figure Channel Down in German company Volkswagen AG (VOW3.de) at daily chart. Volkswagen AG is a German multinational automotive manufacturing corporation. It designs, manufactures and distributes passenger and commercial vehicles, motorcycles, engines, and turbomachinery and offers related services including financing, leasing and fleet management. In 2016, it was the world's largest automaker by sales, overtaking Toyota and keeping this title in 2017, 2018 and 2019, selling 10.9 million vehicles. The Channel Down has broken through the resistance line at 17/11/2020, if the price holds above this level we can have possible bullish price movement with forecast for the next 25 days towards 161.000 EUR. Our stop loss order should be placed at 122.96 EUR if we decide to enter this position.
Fundamentals:
- Volkswagen on Wednesday said the German government's 3 billion euro ($3.57 billion) scheme to support low-emission cars sent a strong signal Berlin would help lift the country's key export industry out of the coronavirus and climate crises.
- Volkswagen is paring back the variety of combustion-engined cars and retooling more factories to build electric vehicles in an effort to keep up with rival Tesla, the chief executive of the world's largest carmaker said. German factories in Emden and Hanover will be converted to build electric cars as part of a 73 billion euros ($86 billion) investment plan to ramp up development of zero-emission and self-driving cars, the company said on Monday.