- EU completes second agreement with Pfizer for 300 million Covid-19 vaccine dosses
- German exports rose in December on solid China trade
- TeamViewer (TMV.DE) expects further growth in 2021
European indices are trading lower on Tuesday, as recent massive rally showed signs of cooling. In early trading, Dax fell 0.40 % from yesterday's record high at 14,181 pts despite the fact that German exports rose in December as robust trade with China and the United States helped. Investors focus on the vaccine campaign, with Reuters reporting that the EU has finalized a deal with Pfizer and BioNTech for the supply of an additional 300 million doses of their COVID-19 vaccine.
DE30 launched a week higher, however after painting fresh ATH high, the downward correction started. Index broke below the 50 SMA (green line) and is currently testing local support at 13,974 pts. Should a break below occur, downward move towards 13,839 pts may accelerate. On the other hand, if buyers will manage to halt declines here, then another upward impulse towards 14,181 pts level could be launched. Source: xStation5
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DAX members at 10:08 am BST. Source: Bloomberg
TeamViewer (TMV.DE) expects that its business would rise by up to 33 % in 2021, while profit margins would hold firm, as the remote connectivity specialist reported a strong end to 2020. Billings are forecast in a range of 585-605 million euros ($707-$731 million) after growing by 44% last year to 460 million euros, the company said, confirming preliminary results published in January. "We will expand our solution scope across more verticals, grow our global enterprise footprint and increase use cases for Augmented Reality and Internet of Things broadly," CEO Oliver Steil said in a statement.
TeamViewer (TMV.DE) stock failed to stay above the resistance at € 46.22 and sellers quickly pushed the price towards the upward trendline. Should a break below the trendline occur, downward move may accelerate. Next support to watch lies at € 40.37. Source: xStation5
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