Frankfurt The price losses on the German stock market continue. The Dax already gave up the 16,000 point mark on yesterday’s trading day and is now slipping further. In afternoon trading, the Dax was at 15,608 points, down 2.1 percent or the equivalent of 330 points.
All 40 Dax papers are in the red, led by Vonovia with a loss of more than six percent.
Today’s daily low is 15,605 points, the lowest level since early April 2023. The focus is now on the important support area of 15,700/15,600 points. The leading German index has defended this area several times since the beginning of April.
If the leading index slips below this mark for a long time, further price losses are likely to follow. At the same time, that would probably also be the beginning of the search for cheap entry-level courses. That is why Jörg Scherer, head of technical analysis at HSBC Germany, recommends this area as a stop-loss mark in order to secure the profits of the stock market year 2023.
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