The technical picture of the Aixtron SE stock (FRA: AIXA) on our daily chart shows that, after this week’s strong reversal to the upside, the share price is approaching the current highest point of April, at 22.01. A break of that barrier is needed, so that we could get a bit more comfortable with further advances. In addition to that, AIXA continues to trade above a short-term tentative upside support line drawn from the low of February 22nd, which may also be seen as a positive sign.
A push above that 22.01 barrier would confirm a forthcoming higher high, potentially opening the door towards the 23.75 hurdle. That hurdle marks the high of September 27th, 2021, where a temporary hold-up could occur. If the buying doesn’t stop there, the next possible target might be at 25.75, which is the highest point of September 2021.
The RSI and the MACD are both pointing higher. Additionally, the RSI continues to run above 50 and the MACD remains above zero, while testing the signal line. Overall, both indicators show positive price momentum, suggesting that more upside could be in the works.
In order to consider lower areas, a break of the previously discussed upside line would be needed. In addition to that, a drop below the 18.24 hurdle, marked by the inside swing high of March 9th, may temporarily scare off buyers from the field. AIXA could drift to the 18.21 obstacle, or even to the 15.23 level. That level marks the lowest point of February.
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