- Price action oscillating around key resistance at $10.52
- Deutsche Bank made an initial breakout above its 5 day Simple Moving Average at $10.51, a potential indicator of a newly emerging bullish phase.
Deutsche Bank displays further gains following a recent trend of 9 days and 80 cents. It was more of the same for Deutsche Bank today — generally flat but with a slight bullish bias, Deutsche Bank ranged between $10.42 and $10.53 before closing higher at $10.48.
The stock has been trending positively for about a month. Having set a significant high of $16.5 a month ago, the German banking giant is trading 41.08% lower.
Deutsche Bank AG made an initial breakout above its 5 day Simple Moving Average at $10.51, a potential indicator of a newly emerging bullish phase. On the other hand, note that Deutsche Bank could be slowing down soon; it is getting close to the resistance line and is now at $10.52, only 4 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Deutsche Bank might continue pointing upwards in the short term.
Fundamental indicators – United States API Weekly Crude Oil Stock came out at -4.8 million, while a consensus of analysts was expecting -2.2 million.
This rally in Deutsche Bank's share price coincided with other financials stocks as Royal Bank Of Canada gained 2.03%, as it traded at $100.81. Visa Inc. was up 1.94%. Berkshire Hathaway added 1.47% to its value, and traded at $315.76.
Upcoming fundamentals: United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.5%; data will be released tomorrow at 13:30 UTC.