Germany: Daimler keeps the negativity – Analysis – 12-9-2018

Daimler shares price was affected by 53.50 level forming initial barrier against the main bearish attack, to be forced to provide some intraday sideways trades, while the price consolidation within the bearish channel reinforces the negative overview, expecting to gather negative momentum to target 52.00 followed by 50.58 level that formed a barrier against the recent negative trading.

The moving average 55 negative crawl and settling below the bearish channel’s resistance at 59.70 confirms blocking the price within the negative range, also, stochastic renews to the negative fluctuation by approaching 20 level to support the attempt to gather the additional negative momentum until achieving our suggested targets.

Expected trading range for today is between 55.10 and 52.00

Expected trend for today: Bearish