BASF shares and the many problems: Things are not looking good at all

In the BASF share chart, the 50-day line proved to be the „killer” for a recovery movement as early as mid-July. And after the DAX lost only a little ground, the bulls dared to try the moving average again. For days, however, it has again proved to be an insurmountable technical obstacle for the BASF share price.

On Thursday of last week and every trading day of the week so far, BASF’s share price tested the resistance line, bouncing reliably down from it. The subsequent downward movements were intercepted at the latest in the area of ​​43.13/43.25 euros. Yesterday, however, the DAX share ended trading just above this mark: it ended the XETRA trading at EUR 43.425 and a loss of 2.29 percent.

Michael Cooper

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