Germany: Beiersdorf begins the negative attack – Analysis – 24-1-2019

Beiersdorf shares price confirmed its affection by the bearish bias domination due to its frequent stability below the neckline at 89.25, which confirms the preparation to record many negative targets, expecting to move towards 84.85 level, while the continuous negative pressures might push to target 50% Fibonacci correction level at 81.85.

Also, note that stochastic sharp decline and settling within the oversold areas increases the chances of gathering the negative momentum, to manage to achieve the suggested targets.

Expected trading range for today is between 87.45 and 85.00

Expected trend for today: Bearish