Waiting to see if the resistance levels will be broken. The area around 13-14.50 EUR looks critical. If all barriers are passed will open a long call (even though analysts' target price is around 11 EUR but they're usually wrong so...)
I say chance, because we need the price to bounce off that resistance first. It is a strong resistance, so it should hold. If it does not hold, be prepared to jump on an insane breakout! I am sure there are positions above that resistance, just waiting to be ordered. Talking of long positions.
So, either way, you really should have an eye on this one, as it is...
Weekly close has broken the ascending trendline. It is then a good opportunity to trigger a short trade. Weekly Coppock curve is now oriented downwards. Target can be identified at the previous horizontal support, approx 5.50. Stop loss above 8.20
For further trading ideas and weekly financial news, please follow our financial magazine at www.wallstreetimes.com
Today there are rumours in the market that Deutsche Bank would be interested in Buying Commerzbank - so the stock is strong bullish today.
The very poor longterm Chart is bearish. Earlier this year we dipped deep down to 6,3€, consolidated a bit up to 8,6€ and then reassumed the downtrend. In july this supportlevel at 6,3 was tested again, but the first...
![CBK: [cbk] correction mode](https://s3.tradingview.com/q/QTgd0AbZ_mid.png "[cbk] correction mode")
