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by Darius Anucauskas
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Can The Lufthansa Stock Fly Higher?

The technical picture of the Deutsche Lufthansa AG stock (FRA: LHA) on our daily chart shows that, after reversing sharply to the upside on March 7th, the stock continues to grind higher, while trading above a newly established upside line taken from the low of March 15th. Although we are leaning towards further upside, we would first prefer to wait for a breakout above the 7.88 barrier, marked by the highest point of February. Until then, we will take a cautiously bullish approach.

If, eventually, a break above that 7.88 barrier happens, this will confirm a forthcoming higher high. More buyers could join in and drag the stock towards the 8.50 hurdle, which is the low of September 21st, where a temporary hold-up might occur. That said, if the buying doesn’t stop there, the next possible target could be at 9.09, marked by the highest point of September.

The RSI is currently pointing lower but remains above 50. The MACD is pointing slightly to the upside, while continuing to run above zero and the signal line. Overall, the two indicators show positive price momentum, supporting the idea mentioned above.

Alternatively, if the stock breaks the aforementioned upside line and then falls below the 6.95 hurdle, marked by the low of March 24th, that may signal a change in the direction of the current short-term trend. LHA may drift to the 6.62 obstacle, or even to the 6.20 zone, marked by the low of March 9th. If that zone is not able to break the fall, the next potential support target might be at 5.92, marked by the inside swing high of March 8th.

Lufthansa-Daily

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