DAX is one of the most popular indexes in the world. It is listed on the Frankfurt Stock Exchange. Virtually daily there is a very large volatility that gives many trading opportunities.
Summary of the session 01/08/2018
The first session of the month was not successful for share holders, DAX fell at close 1.08%, most of the session the index oscillated around the weekly pivot above 12,700 points. PMI data from industry negatively surprised, after June a better reading of 57.3pts, the economy is again beginning to shrink to 56.9pts.
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Among the components of the DAX index, the best result was recorded by Fresenius Medical Care, which gained 1.56%, while Henkel increased by 1.35%. Worst performing was Volkswagen with a loss of 3.69%, while Continental lost 3.63%. The total number of losing companies outnumbered the number of gaining listed on the Frankfurt Stock Exchange by 423 to 293.
The index at the opening on Thursday strongly depreciates, after a 30-point gap below yesterday’s minimum, the sell-off is continuing. The daily price range is already close to 100 points, with an average volatility of around 150 points. For the first time this month, DAX is testing the level of the monthly pivot from above, which runs at 12,600 points.
The nearest resistance is 12,660 points, while the support is the furthest away S3 in the area of 12 520. The direction point is only at 12,750.
According to a survey conducted among professional investors, the percentage of optimists is 46% after an increase of 11% in the last week, while 32% of respondents bet on a decline, the remaining 22% do not engage in capital. Among retail investors, the ratio is as follows: 41% bull vs 37% bears.