Chart-wise, the stock is currently showing a slight wedge with bearish tendencies. On the upside, the area of 32-33 euros is blocking the way. Our main scenario from here is falling prices. We expect a break of the lower wedge boundary and a drop towards 28 euros. In the 27-28 euro range, we expect another buyer overhang.
Below 27 euros, the picture would continue to deteriorate, and sharper downward waves could follow.
Bullish alternatives can only be derived above 33 euros.
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