Lanxess keeps the positive stability – Analysis – 26-4-2017

Lanxess shares price succeeded to build new bullish wave as 61.00 formed main support line, noticing extending trading recently towards 65.95, which allows us to suggest more bullish attempts and target 67.95 as a next target for the near term and medium term trading, followed by attempting to provide new positive pressure on the previously recorded top at 70.00.

We notice that the price leans on the moving average 55 positivity, which settles above the main support line to increase its strength against any sudden negative pressure, also, stochastic attempt to reach the overbought areas allows the price to gather strong positive momentum until achieving our waited targets.

Expected trading range for today is between 64.00 and 67.90

Expected trend for today: Bullish