Duerr: BnR after prognosis cut

20 ott 2023

After the cut of the 2024 prognosis the share price drop significantly. The pattern has all characteristics of a BnR and the 20th October candle is almost an hammer. We see a drop equal to two times the width of the lead in channel. The important low of 2022 was broken within day but not on a daily basis. So we may see either a quick V-shape rebound (black) or no or a small rebound to the upper bound of the third channel with a retest of the lower channel bound. In that case the resistance at 18 € is important. if the channel breaks the next resistance, the covid low is almost another channel width away.