- Next support is currently 12 cents away at $10.76
- Bollinger analysis indicates upper Band® is at $11.26
Stable at $10.88 and still trending upwards, Yesterday's session put the brakes on the ongoing uptrend — Deutsche Bank recovered back to $10.88 after dipping down to $10.8, in a session that followed Thursday's $10.9 close value.
2 months ago the German banking giant reached a significant high of $13.49 but has consequently lost 19.2% since then.
Deutsche Bank AG's upper Bollinger Band® is at $11.26, suggesting that a downward move may follow. On the other hand, note that Deutsche Bank is approaching key support, around 12 cents away from $10.76. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite the market lacking direction, technical chart analysis strongly suggests Deutsche Bank is positioned for a downward move in the near term.
Fundamental indicators – United States Services PMI came out at 53.7, while a consensus of analysts was expecting 51.5.