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Stocks in Europe trade mixed
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DE30 tested 200-period moving average at H4 interval
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Delivery Hero invests $235 million in another delivery start-up
European markets are trading mixed on Tuesday. Indices from Germany, UK and France trade more or less flat while Spanish IBEX (SPA35) outperforms, gaining 0.7%. In spite of an upbeat Asian session, investors in Europe are struggling to push blue chips indices higher. Economic calendar for today lacks releases of top-tier macroeconomic data but a lot of Fed members will deliver speeches in the afternoon.
Source: xStation5
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Open real account TRY DEMO Download mobile app Download mobile appDE30 pulled back after a failed attempt of breaking above the resistance zone marked with the 61.8% retracement of the downward move August 13, 2021. Pullback was halted yesterday at the 200-period moving average at H4 interval (purple line) and index attempted to launch a recovery move afterwards. However, bears once again took over and once again tested the aforementioned moving average. While no break below was made, index continues to trade nearby. Should we see a break below the 200-period moving average later in the day, traders should watch whether it breaks below the 50% retracement in the 15,410 pts area, marking yesterday's daily lows.
Company News
Delivery Hero (DHER.DE) announced investment in another delivery start-up. The company invested $235 million in Gorillas, the German grocery delivery company with an aim to further boost its dominant position in the rapid delivery sector.
Analysts' actions
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TeamViewer (TMV.DE) downgraded to "neutral" at Berenberg. Price target set at €16.50
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HelloFresh (HFG.DE) rated "neutral" at JPMorgan. Price target set at €82
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Lufthansa (LHA.DE) upgraded to "neutral" at Berenberg. Price target set at €6.30
Delivery Hero (DHER.DE) continues upward move support by more news of start-up investments. Stock broke above the €115 resistance zone today and the attention now shifts to the €118.60 area, where 50- and 200-session moving averages can be found. Source: xStation5
