Daimler Stock Breaks The Upper Side Of The Range

by Darius Anucauskas
13:13, 2022/02/17

The technical picture of the Daimler AG stock (FWB: DAI) on our 4-hour chart shows that yesterday, the share price exited a short-term range, where it was trading in from around mid-December, through the upper side of. That range is roughly between the 66.48 and 76.44 levels. At the same time, the stock continues to run above all of its EMAs, suggesting that more upside could be possible. If the share price stays above the upper side of the range, we will continue aiming higher.

A further push north may bring DAI closer to the 80.43 hurdle, marked by the lowest point of November. Initially, the stock might stall there for a bit, or even correct slightly lower. That said, if the share price stays above the upper side of the aforementioned range, new buyers could join in. If so, the stock might bounce back up, and if this time it is able to overcome the 80.43 barrier, the next possible target could be at 83.83, which is the low of December 8^th.

The RSI is currently flat but remains well above 50. The MACD is pointing higher, while running above zero and the signal line. Overall, the two indicators show positive price momentum, which is inline with the above-discussed scenario.

Alternatively, if DAI falls back into the range and then drifts below the 73.41 hurdle, marked by the low of February 15^th, that might spook the remaining buyers from the field for a while, increasing the stock’s chances of moving further south. The share price could fall to the 71.89 obstacle, or even all the way to the 68.86 zone, marked by the low of February 11^th. If the slide doesn’t stop there, the next possible target may be in the area between the 66.48 and 66.74 levels, marked by the lowest point of December and February. That area is also the lower side of the previously mentioned range.

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