The technical picture of the Deutsche Bank AG stock (ETR: DBK) shows that yesterday, it managed to overcome its short-term tentative downside resistance line taken from the high of July 21st. Today, the share price continues to push higher, which means that the buying interest could be here to stay for a while more. For now, we will take a positive approach and continue aiming higher.
A further push north may bring the stock to the 8.26 hurdle, which is the highest point of September, or to the 8.47 zone, marked by the highest point of August. DBK could stall there for a bit, or even correct back down slightly. However, if the price remains somewhere above the aforementioned broken downside line, that may keep new buyers interested in the stock. If so, DBK might rise again and if this time it is able to overcome the 8.47 obstacle, this may clear the path towards the next possible resistance area, at 9.17. That area marks the highest point of July.
The RSI and the MACD are currently both pointing higher. Also, the RSI is above 50, showing increasing upside price momentum. On the other hand, despite running above its trigger line, the MACD is still fractionally below zero. Although the RSI seems to be more supportive of the upside scenario, the MACD is close to getting into positive territory, which may later support the above-discussed idea.
Alternatively, if the share price falls back below the previously-mentioned downside line and also slides below the 7.67 area, marked by the low of August 21st, that could spook new buyers from entering any time soon. DBK may then drift to the 7.30 hurdle, a break of which might set the stage for a push to the lowest point of September, at 6.75.
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