During today’s Asian trading session, Germany’s benchmark GER 40 Index was observed trading beneath the 18,800 mark. The index halted a nine-day ascent largely influenced by a disappointing quarterly industrial profit report from Siemens, which triggered a significant drop in its shares. Additionally, the downturn was exacerbated by declines in key sectors such as automotive and energy, largely due to adjustments related to ex-dividend trading.

Despite these local setbacks, the broader European stock market, represented by the STOXX 600, decreased slightly by 0.2%. This reduction occurred after the index reached unprecedented heights the previous day, spurred initially by U.S. inflation data for April that suggested an increase smaller than anticipated. This had previously lifted global market spirits by reinforcing expectations that the U.S. Federal Reserve might lower interest rates in September.

The repercussions of Siemens’ underperformance were distinctly felt across Germany’s DAX, contributing to a broader sectoral retreat in industrial goods and services by more than 1%. This case exemplifies how pivotal companies within major indices can significantly sway market dynamics. Notably, amidst these market fluctuations, users of advanced AI trading platforms have reported exceptional success, leveraging algorithms that could predict these changes, thus securing over 34% in returns within the last 24 hours. Discover their innovative approach.

Technical analysis

Ger 40 Index Analysis Technical analysis 17/05/2024

Time Frame: 1 hour

GER40 Support & Resistance Table – 17/05/2024

Support & ResistanceLevelExplanation
Resistance 218997.8Daily R2
Resistance 118946.9Daily R1
Support 118811.1Daily S1
Support 218760.2Daily S2

GER40 Indicator Table – 17/05/2024

IndicatorSignal
SMA 20Buy
SMA 50Buy
SMA 100Buy
MACD( 12;26;9)Buy
RSI (14)Sell
Stochastic ( 9;6;3)Neutral

GER40 Indicator / Period Table – 17/05/2024

Indicator / PeriodDay – BuyWeek – BuyMonth – Buy
MACD( 12;26;9)BuyBuyBuy
RSI (14)SellBuyBuy
SMA 20BuyBuyBuy

GER40 17/05/2024 – Reference Price : 18875.5

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (1)Sell (1)

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