Summary of the session 17/05/2018
DAX on Thursday’s session recorded a strong increase of 0.92%, share holders can be satisfied, especially in the retail and pharmaceutical sectors. The index climbed to 13,100 points and was at the highest level from February 2. The Wall Street session was not so successful, the declines deepened after Donald Trump’s sharp words to China.
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Among the components of the DAX index, the best result was recorded by Merck, which gained 6.43% and Fresenius Medical Care increased by 3.63%. The worst result was the Henkel company dropping just 0.43% and Commerzbank lost 0.29%.
At yesterday’s session, the increase reached the area of the farthest Pivot point, while today the quotes start at the maxims. The first local resistance point at 13 160, farther, the monthly resistance pivot slightly above 13,200, while the direction point around 13,070 points, can become a good time to join stock bulls.
A threat to growth may be the EURUSD rate, which is making up for losses, in the case of further strengthening of the European currency combined with the sell-off of the index, we can see profits taking before the end of the week.