Commerzbank AG - Is 20 euros realistic?

In terms of the chart, the share was able to sustainably overcome a significant resistance area at EUR 15.8. However, the share is in danger of running out of steam on the upper side at the upper trend channel boundary in the near future. After such a significant rally, a bounce off the trend channel line would have to be assumed.

Our main scenario is therefore a run-up to the upper trend channel line (relatively direct), followed by a bounce south to EUR 15.8. After a retest of this horizontal support, new highs would be a possibility.

A rally acceleration towards EUR 20 is currently the secondary scenario. The same applies to bearish alternatives, which would come into play below EUR 15.80 in particular.

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