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European stock markets trade higher
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DE30 tested 15,800 pts area
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Data on over 3 million Volkswagen customers stolen
European stock markets trade higher during the first trading session of a new week. However, in most cases indices pulled back from daily highs. German DAX tested 15,800 pts area for the first time in history but bulls were unable to hold onto these gains. Economic calendar today is empty therefore session ahead may be slightly muted.
Source: xStation5
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Create account Try a demo Download mobile app Download mobile appDE30 rallied at the beginning of today's cash session and tested 15,800 pts area for the first time in history. However, bulls were unable to hold onto these gains and reversal occurred. As one can see on the chart above, the rally was halted a touch below the resistance zone marked with the 161.8% exterior retracement of the correction move from the beginning of June. Index pulled back below the 127.2% retracement later on. As a result, a pin bar candlestick pattern can be spotted on D1 chart. In case the index finishes today's trading below the 15,720 pts area, a potential bearish signal would surface on a daily interval.
Company News
Volkswagen (VOW1.DE) informed that one of the third party vendors it works with has fallen victim to hackers' attack. As a result data of over 3 million customers of Volkswagen and Audi have been stolen. Data leak relates primarily to the customers from the United States and Canada. Company said that it has contacted around 90 thousand customers who had especially sensitive information stolen. Volkswagen offered credit protection to affected customers.
Switzerland rejected a set of environmental friendly proposals during a referendum on Sunday. One of the proposals aimed to ban use of artificial pesticides while the other aimed to boost subsidies for farmers who stopped using artificial pesticides. Bayer (BAYN.DE), who has a major agriculture business, welcomed the results of the referendum.
TeamViewer (TMV.DE) announced a partnership with German software company SAP (SAP.DE). Two companies will work together to drive innovation and digital transformation of workplaces in industrial environments.
TeamViewer (TMV.DE) leaped higher today following the announcement of a partnership with SAP. Stock is approaching its recent local peak at €32.80. If bulls manage to break above this hurdle, the way towards the next major support in €35.00-€35.50 area will be left open. This zone is marked with a 50-session moving average, downward trendline, upper limit of the Overbalance structure and previous price reactions. Source: xStation5
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