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Wirecard: Summer Lull Above the 50-Day Line

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The Wirecard share has been known this year for its sharp price losses and its subsequent steep rises, but since mid-June, you can only feel very little of this. The short-term drop to 130.40 euros on May 31 was quickly overcome again.

In June the share only advanced to the level of 156.00 euros. This was followed by minor corrections and rises, which did not exceed the high of 156.00 euros on 18 June. Only the rebound to 135.20 euros on July 18 broke through the picture of a narrow sideways movement.

However, the buyers have a slight advantage, as the stock is listed above the 50-day line at 146.28 euros. The distance to the moving average is not so great that the bulls could lean back and relax. Their task will continue to be to increase the share price above the resistance level of EUR 156.00 and then to raise it again to its high of EUR 162.30 on 28 May.

It will be dangerous as soon as the share falls below the 50-day mark on a sustained basis. In this case, it is to be expected that the price of the Wirecard share will fall to 141.30 euros, but probably to the low of 135.20 euros on July 18. If this support falls as well, a test of the low of 130.40 Euro on May 31 should be carried out.



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