Looking at the technical picture of the Fraport AG stock (ETR: FRA), we can see that it continues to trade above a medium-term tentative upside support line taken from the low of November 2nd. Currently, the share price is sitting slightly above the 21-day EMA, but struggling to overcome the 52.46 barrier, marked by the high of March 19th. As long as the stock stays above that upside line, there is a good chance we could see it moving higher. However, in order to get a bit more comfortable with the upside, a push above that 52.46 barrier would be needed.
If, eventually, FRA moves above that 52.46 hurdle, this could help the stock to move higher towards the 55.30 obstacle, or the 56.50 hurdle, marked by the current highest point of March. Initially, the price acceleration might get halted there for a bit, but if there are still enough new buyers, FRA may drift to the 58.28 level, marked by the high of February 28th.
The RSI and the MACD are currently pointing higher. In addition to that, the RSI remains above 50 and the MACD is still above zero, despite being slightly below its trigger line. The two indicators still show positive price momentum, which supports the above-mentioned idea.
Alternatively, if the stock breaks the previously-discussed upside line and then falls below the 48.02 hurdle, marked by the current lowest point of March, this will confirm a forthcoming lower low, potentially opening the door for further declines. Such a move might scare away new buyers from entering the playing field. FRA could fall to the 44.92 obstacle, or to the 43.48 zone, marked by the lowest point of February. If the slide continues, the next possible target might be at 41.50, marked by the lowest point of January.
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