Allianz SE – Volatile sideways phase!
As expected, the Allianz SE share has entered a volatile sideways phase. The upper trend channel limit is unlikely to be overcome in the long term. In October, there was a short-term false breakout, but this was quickly sold off.
Our main scenario envisages a sideways phase between the decisive horizontal support zone at €280 and the upper (rising) trend channel limit (currently around €310).
If the stock falls sustainably below EUR 280, a test of the lower trend channel limit at currently around EUR 260 should be on the cards. Below EUR 260, the bears would take over and the focus would turn to EUR 232.
*Analysis from 08.10.2024*
Allianz SE – Will the rally end soon?
The Allianz SE share price has rallied an impressive 25% in the last two months. From its August low, the share price rose relentlessly. Year to date, the share price is up 19.6%. What should happen next?
The stock looks attractive from a chart perspective. It is in a long-term uptrend. A clear trend channel exists. However, the last movement ended exactly at the trend channel limit and a small consolidation started. This has been going on for a few days now. Our main scenario from here envisages a volatile sideways phase. We expect a retest of the upper trend channel limit in the coming weeks. However, we also expect a renewed bounce off the same. As the year progresses, a retest of the prominent horizontal support at €280 should be on the agenda. An acceleration of the upward trend can only be assumed if there is a sustained break of the upper trend channel limit.
Below €276, further losses to around €255 could be on the cards.
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