Overall, since its reversal to the downside in January 2014, the Deutsche Bank stock (ETR: DBK) lost a large chunk of its value. If in January 2014, the stock was trading near the 40-euro mark, today it is desperately trying to stay above the 6-euro level. Form the very short-term perspective, we can see that, after finding strong support in the beginning of June, the share price started rising, trading above a short-term upside line taken from the low of June 3rd. In the beginning of July, DBK climbed above the 7-euro mark, but during the next trading session it failed to maintain those highs and sold off, traveling back to the aforementioned upside support line. That said, as long as that line remains intact, we will stay somewhat positive about the short-term outlook and aim for the recent highs again.
A strong push through the 6.760 barrier, marked by today’s high, and a break above the 200 EMA on the 4-hour chart, could increase the stock’s chances of pushing further north. We may see more buyers jumping in and driving DBK to 7.010 zone, which previously held the price down in July 1st. It could be that this area may halt the rise, or even push it back down a bit for a small correction. But if the stock remains above the 6.760 area, or even the aforementioned upside support line, the buyers might take advantage of the situation and lift the share price. If the 7.010 hurdle surrenders and breaks, the next potential resistance level could be seen around the 7.375, which is the intraday swing high of July 5th.
On the other hand, we will start looking south again, if initially we see a break of the above-discussed upside line and a price-drop below the 6.415 hurdle, marked by yesterday’s low. Such a move might spook new investors and could open the door for another slide towards the 6.180 obstacle, which held the price from falling on June 25th. DBK could stall there temporarily, but if there are still no takers at that price, a drop below 6.180 could lead the stock slightly below the 6-euro mark, at 5.995, which is the low of June 18th.
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