The G20 summit took place in Bali, Indonesia, on November 2022…
Top 3 German Stocks
Information is not investment advice
Wonderful news for FBS traders! We’ve added 30 German stocks from Frankfurt Stock Exchange (FSE). The stocks are available for trading in the FBS Trader app. FSE working hours are from 10:00 to 18:00 MT time, and that’s when you can trade these stocks.
Here are the top 3 German stocks.
This company is the leading software corporation in Germany and the whole EuroZone. The COVID-19 pandemic boosted the technology sector as the work-from-home regime increased demand for cloud-based solutions. More and more businesses start using cloud solutions and SAP’s client base keeps growing, that’s why the company has a bright future. Time to look at the chart. The stock of SAP is moving inside the ascending channel. The recent concerns over China’s Evergrande and the overall risk-off sentiment pressed all the stocks down, and SAP as well. Thus, we can observe the stock near the lower line of the channel. Thus, there is a high probability that the stock is going to reverse up and rally back to the 50-day moving average of $124.00. Support levels are the recent lows of $119.00 and $117.00.
This company is the largest industrial gas company by market share and revenue! Its stock price has surged by 160% over five years. Incredible! The price has just broken above the 50-day moving average of $260.00, clearing the way up to the next resistance level of $265.00. If it breaks it, the stock can return to the all-time highs of $270.00.
Volkswagen is the third-largest automaker after Tesla and Toyota by market cap. After a sharp hike at the beginning of 2021, the stock of Volkswagen is moving sideways between $260.00 and $315.00. Now the stock is at the lower part of this channel. It means that the stock is going to reverse up in the upcoming days. The jump above $275.00 will open the doors to the 50- and 100-day moving averages which lie together near $285.00. Support levels are $260.00 and the 200-day moving average of $250.00.From the fundamental point of view, VOW is positioned really well as the focus on electric vehicles continues and the company develops in this segment.
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The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.