Rheinmetall share: The all-time high could be reached again

Rheinmetall shares remained in a good stock market environment yesterday. At the end of the XETRA transaction, the 0.9 percent price increase remained in the price table in the automotive and weapons equipment section. The closing price of EUR 199.50 is close to an important short-term technical barrier – the last barrier below the ascending top of EUR 222.60/227.90 from the first half of 2022. The focus is between the technical chart barriers of 197 ,70/199.35 euros and 202.70 euros, the peak of the day on Monday. Here, shares in Rheinmetall (WKN: 703000, ISIN: DE0007030009, chart) benefited from a new order of around €300m for a Pierburg subsidiary. Further buy signals at these technical chart barriers could allow Rheinmetall shares to rise to half of the 2022 peak area at €222.60 / €227.90. Then important trend signals would appear here. On the other hand, if there are no new buy signals, the recent uptrend may consolidate sooner or later. In this case, the lower allowance is between 186.65 euros and 187.75/189.65 euros. At this point, sell signals make the technical support below the €180 chart a possible target for Rheinmetall shares.

Michael Cooper

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