Share Porsche – update from 1 August 2022 (current price and including 29-07-2022)

Share Porsche – update from 1 August 2022 (current price and including 29-07-2022)

Summer is in full swing so we complain rock and bone. Too hot, too dry, etc. Finally there is hope in the stock market too. Inflation is too high, which can lead to recession, which is a sign of recession. Fortunately, it’s not far off yet and you don’t have to let yourself be talked into.

Do we look DAILY CHART of Porsche share we see the following;

Daily chart

Chart above. The RSI has dropped to the 25 level on 05.07.2022, within a downtrend that is still intact, a short-term buy signal. At the same time, the same RSI is already at 57, which means that the big increase is already behind us.

The middle part. The 90-day and 150-day moving averages, shown here as RED and ORANGE soft lines ABOVE the price, once again confirm an ongoing BACKING trend. The green MA-10 and the blue MA-30 show an increase in what can be seen as a short-term buy signal. Violation of the support line of the price trend line has proven to be an extreme market reaction where the price has recovered. The long-term declining averages above the 90 and 150 days, as well as the resistance line of the trend line that is still falling, now form a barrier to further upside.

Chart below. The MACD has now risen above the zero line. Staying above the zero line can mean that better times are coming with a continuing upward trend. Not that far yet.


The downward trend is (mostly) visible on the weekly chart.

Chart above. Where the daily chart shows an RSI of 25, the drop in the RSI on the weekly chart only comes to 35. The recent increase now brings the RSI to the 44 level.

Chart in the middle. The MA-10 (green line) is still falling here on the weekly chart, as the MA-30 (blue) is also falling. The longer-term averages above 90 WEEKS and 150 WEEKS are still rising, but not flat. This may indicate a definite break in the trend, but I don’t want to go that far yet. I think more recovery but still in the low center.

Chart below. MACD is at a low level where the bottom can be taken as a harbinger of rising prices. Some caution is in order as the dotted line does not yet confirm the increase.

Short trips to the upside in a declining market are often good opportunities for short-term returns. The risk is often greater, but the results are the same. The ongoing war, inflation still high still determine the stock market. There are always candidates!


Luc Verschuren

Technical analyst

Questions / comments?