Germany: BAS AG shares exit the bullish track – Analysis – 19-10-2018

BAS AG shares faced strong negative pressures recently, to notice its crawling below the bullish channel’s support line at 69.95, confirming its preparation to build new negative attack in the upcoming period, while we will mainly depend on the broken support line that forms key resistance now to expect moving towards 63.65 followed by reaching 50% Fibonacci correction level at 58.33.

Stochastic sharp decline and settling within the oversold areas reinforces our bearish overview to increase the chances of resuming the negative attack until achieving the main suggested targets.

Expected trading range for today is between 69.60 and 63.65

Expected trend for today: Bearish