The top of the retracement of the decline between May and September 2022 on 23rd January 2023 has been reached again and may serve as a resistance now. Another attempt down may be expected.
Watch for the pattern to break. The price should continue its path downwards however a false break upwards may try to spook you. Watch the volumes carefully to confirm.
DYOR
The technical figure Triangle can be found in the daily chart in the German company ThyssenKrupp AG (TKA.de). ThyssenKrupp AG is a German multinational conglomerate with focus on industrial engineering and steel production. The company claims to be one of the world's largest steel producers; it was ranked tenth-largest worldwide by revenue in 2015. It is divided...
Thyssen Krupp fall down on the current sidewards channel, which may be a bull trap and an oportunity to buy right now.
MACD turned positiv today, which signals a buy.
Steel is in high demand right now and other products. In the mid/long range inflation, should give Thyssen better prices for it steel.
Embargo against europeans steel may fall:
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💡 TKA technically based idea, we can see price is bounce from top trend line, technically indicators showing we can expect higher...
TKA has been overbought for a while now and a correction is increasingly likely. One possibility is that the price and the EMA 200 meet at 7.60-8.00 euros . With the idea shown, there is a good risk-reward ratio and one can limit the losses well. What is your opinion? Do you agree with me or not? I would like to point out that this is for information purposes only...
Thyssenkrupp AG (TKA - Xetra) is moving down in WXYXZ wave pattern. The price already broken down X wave triangle and moving down in Z wave as ABC internal three wave down sequence. The stock is in downtrend compared to DAX. It is in wave A downtrend and will go further 3rd wave down after wave 2 once completed.
Thyssenkrupp AG (TKA - DAX) is in downtrend. The 5th wave down shown in chart is in progress. Sell below 5.34 after breaking down that level with stops above 5.75 for new low as target. It is much under-performer to DAX index.
Reasons:
1) trend change
2) first step FIBO36.2 , if we will reach this with a strong candle, we can add a second possition to 3)
3) second TP FIBO 50%
4) stoch and volatility are in a up trend.
