After a long downtrend, Medigene stock hit a low of EUR 6.10 on July 12. From this, a recovery started. It quickly brought the value back up to the 7.00 Euro mark. At first, however, the buyers were unable to overcome this resistance. The share price fell back to EUR 6.42 and remained at this level for a few days.
After the sideways movement had ended, the share price rose again to EUR 6.90 and reached the downward trend since mid-April. As the buyers were again unable to overcome the double resistance of the downward trend and the horizontal 7.00 Euro mark, the share now threatens to fall back to the low of July 12.
The short-term upward trend since mid-July is already under pressure and it must be expected that it will break shortly. Until the low of July 12 at 6.10 euros, only the lower edge of the sideways movement remains at 6.42 euros as the only support.
Avoid buyers can only relapse to the low of July 12 if they manage to climb above the 7.00 euro mark sustainably and also break the medium-term downward trend. In this case, an increase in the 50-day line at 7.25 euros would be possible.
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