Business idea: Mercedes-Benz – success over opposition?

The shares of the esteemed automotive manufacturer, Mercedes-Benz, have exhibited a consistent downward trajectory subsequent to their historic pinnacle of EUR 75.92 on March 6th, ultimately reaching a previous unprecedented low of EUR 64.51. However, a countermovement has recently commenced, offering the potential for a notable recovery. Presently, Mercedes-Benz shares have encountered a substantial resistance level at EUR 68.40, prompting the question of a potential breakthrough.

Traditionally, countermovements within a downtrend tend to conclude in proximity to the 10-day Exponential Moving Average (EMA). However, on Monday, Mercedes-Benz shares surpassed the 10-EMA, indicating an impressive display of strength. Consequently, the possibility of a subsequent surge above the resistance at EUR 68.40 has emerged. Moreover, such an advancement could potentially propel the share price further upwards, targeting the 50-day EMA at EUR 69.35. In the event of a subsequent decline in price, the initial support level to monitor would be the 200-day EMA, presenting an initial test at EUR 66.65.

Conclusion:

In conclusion, traders may consider speculating on a rally in Mercedes-Benz shares, particularly above the resistance level of EUR 68.40. To capitalize on this opportunity, a long position in the form of a Long Mini-Future (VU1A37) from Bank Vontobel could be pursued. It is advisable to establish a price target within the range of EUR 69.00, while simultaneously placing a stop at EUR 66.00 to mitigate potential risks.

Business idea: Mercedes-Benz

Basic	Mercedes Benz (ISIN: DE0007100000)
type of product	Open the turbo phone
provider	Vontobel
ISIN/WKN adds product	DE000VU1A370 / VU1A37
Time	open end
Course Knockout Call (Date)	€1.23/€1.24 (05/15/2023, 1:20 pm)
Base price difference	€79.61
threshold to hit	€79.61
lever	5.53
Knockout distance	15.70%
Stop Calling Lost	€1.00
the target phone	€1.30 (+4.00%)

Conclusion:

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Amani