Shares of Mercedes-Benz initially started trading on Monday and increased. However, the price gains were not sustainable and the carmaker was listed at the end of the DAX with a discount of more than three percent in the morning. This further overshadowed the already poor picture of the chart.
One reason for the strong minus is weak US competition sales figures. At VW, BMW and Audi, sales in the second quarter fell by more than 30 percent in some cases. This puts pressure on the Mercedes papers to sell. Sales figures for Stuttgart have yet to be worked out.
On the downside, the carmaker’s stock has now fallen to its lowest for the year and thus below key support. The price of Mercedes papers is therefore at its lowest level since February 2021. The next support is also 53.23 euros.
Mercedes chart image is very weak. So starting is not an option. Investors should keep their feet on this time and not catch the falling knife. Investors are waiting until stocks make a sustained low.
Notice of conflicts of interest: The CEO and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, has taken direct and indirect positions on the following financial instruments mentioned in the publication or related items that may benefit from the price promotion resulting from the publication: Mercedes-Benz.