| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 97.50 |
| Take Profit | 86.00 |
| Stop Loss | 104.00 |
| Key Levels | 86.00, 88.00, 97.50, 99.00, 100.00, 102.00, 111.30 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 102.40 |
| Take Profit | 111.30 |
| Stop Loss | 100.00 |
| Key Levels | 86.00, 88.00, 97.50, 99.00, 100.00, 102.00, 111.30 |
Shares of Volkswagen AG, a German automobile corporation, are trading just below 99.00.
On the daily chart, the price is falling within a downward channel with dynamic boundaries of 102.00–88.00.
On the four-hour chart, despite the implementation of all targets for the recent Head and shoulders pattern, the potential for continuation of the negative dynamics remains high. Yesterday, the quotes renewed the year’s low of 100.00. Now, the only obstacle on the asset’s path is the channel support line of 88.00, which it may reach soon.
Technical indicators are holding the sell signal: the fast EMA of the Alligator indicator are below the signal line, preparing to continue expanding the fluctuation range, and the AO histogram is forming downwards bars in the sell zone.
Trading tips
Short positions may be opened after the price declines and consolidates below 97.50, with the target at 86.00. Stop loss — 104.00. Implementation period: 7 days or more.
Long positions may be opened after the price grows and consolidates above 102.40, with the target at 111.30 and stop loss 100.00.
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