Looking at the technical picture of the Deutsche Bank AG stock (ETR: DBK) on our 4-hour chart, we can see that after reversing higher on March 7th, the share price has been drifting higher for some time, but after March 22nd it started showing some sideways activity. The stock is now stuck in a range, which is roughly between the 11.24 and 12.11 levels, which mark the low of April 6th and the high of March 29th. For now, we will take a neutral stance, however, in order to consider the next short-term directional move, we would prefer to wait for a violation of one of the sides of that range first.
A push through the upper side of the aforementioned range, at 12.11, would confirm a forthcoming higher high. This way, more buyers could join in and drag DBK to the 12.64 zone, marked by the inside swing low of February 22nd, where a temporary hold-up might occur. That said, if the buyers continue to apply pressure, that resistance zone may break, potentially opening the door towards the 13.36 area, which is the high of February 22nd.
The RSI is flat but recently jumped above 50. The MACD, had just poked its nose above zero and the signal line, showing willingness to move higher. Overall, the two oscillators indicate positive price momentum, which supports the upside scenario idea.
Alternatively, if the share price drops through the lower side of the previously discussed range, which is at 11.24, this will confirm a forthcoming lower low, possibly spooking some buyers from the field. DBK may drift to the 10.63 obstacle, a break of which might open the door towards the 9.95 level. That level marks the low of March 15th.
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