Dax gives way – courses of vaccine manufacturers find support

Yesterday’s trading day brought little new information, at most one: the upward trend is intact. It was a so-called “Inside Day”, the high and low remained within the range of the previous Monday. Accordingly, the difference between the high and low on Tuesday was only 90 points.

Only prices below 15,477 points, the correction low since the two-month sideways phase was overcome, would bring new momentum to trading. And of course a new record high, the current one is 15,732 points.

The focus is currently on the shares of corona vaccine manufacturers. Because the news that there should be no vaccine from Curevac before August 2021 caused the share to collapse by more than twelve percent on Tuesday after significant gains in the days before.

Today, Wednesday, the sell-out seems to be over. The paper even traded 1.6 percent plus at 90.16 euros. Apparently, investors in the Tübingen company forgive the fact that the share price has to do a “three-month round of honor”, the possible economic success will only be seen at a later date. Investors originally hoped for approval in June.

The news also put a significant strain on the prices of the other manufacturers who already offer mRNA vaccines. On Wall Street, Biontech fell by 7.4 percent and Moderna by 3.0 percent. Both papers are recovering on the German market and are increasing by around two and 4.5 percent.

Price explosion at Windeln.de

What Gamestop and AMC Entertainment are for the US market, is Windeln.de on the German stock exchange. What all three papers have in common is that the prices are rising extremely, although the fundamental values ​​are rather bad.

The price of the mail order company for baby and children’s items doubled on Monday and rose by a further 130 percent on Tuesday. Whereby the daily high on yesterday’s Tuesday of 6.92 euros was more than 300 percent above the closing price on Monday.

Today, Wednesday, the situation looks different: The shares slide by more than five percent and are quoted at 4.83 euros. The reason for these price jumps since the beginning of the week is grotesque: The background is therefore the news from China that there will now be a “three-child policy” there. China is the main market for the mail order company. And so one believes in the various stock exchange forums: If the Chinese policy now allows more children per family, that means a massive increase for the Windeln.de business.

This point of view at least confirms, to put it jokingly, an old stock market adage: the prices always reflect the expectations of investors for the business in nine months.

You only have to read through the analysis of the research house Montega from the end of May on Windeln.de to see how absurd these price jumps are. “We are leaving our forecasts unchanged due to the tight capital base and the lack of a ‘proof of concept’ (milestones in project development) for the new sales channels,” the analysts write.

Windeln.de’s board of directors is planning a capital increase, which the Montega experts consider to be absolutely necessary because the current cash balance does not provide sufficient leeway. However, the experts have increased their target price: from 1.40 to 1.60 euros.

The fact that private investors in particular are involved in the price explosion can be seen from the trading volume on the Tradegate platform, on which mainly small investors are active. In the weeks before, around 20,000 papers changed hands every day. On Friday there were already more than 60,000 items, followed by 4.2 million notes on Monday and as many as eleven million titles on Tuesday.

Look at the individual values

Airbus: The Franco-German aircraft manufacturer buys the aerospace division of the automotive supplier ZF Friedrichshafen Airbus Helicopters in the Swabian town of Donauwörth. Airbus will take over ZF Luftfahrttechnik GmbH in Kassel-Calden with 370 employees and most recently an annual turnover of 85 million, announced Airbus and ZF. The transaction should be completed this year. The companies did not mention the purchase price.

Airbus shares rose 0.3 percent on Wednesday. The performance this year is impressive. In the past four weeks, the plus is more than twelve percent. Since the beginning of the year, the increase in value has been more than twenty percent.

Oil prices are climbing to new multi-year highs

Signs of demand recovery from the coronavirus aftermath encourage investors to buy crude oil. The price of the Brent variety from the North Sea rose by 0.8 percent to a two-year high of 72.83 dollars a barrel. The US variety WTI is gaining similarly strong and at 70.62 dollars it is as expensive as it was last three years ago. “The latest traffic data indicate that with the relaxation of the pandemic restrictions, travelers are increasingly on their way again,” wrote ANZ Bank analysts.

What the Dax chart technology says

Since breaking out of the two-month sideways range with 14,800 points on the lower and 15,500 points on the upper side, the technical picture has changed. The former resistance 15,500 has now become a support level. This fits the correction low since this outbreak, which was reached with 15,477 points last Thursday. This area is ideal for trading-oriented investors as a stop-loss mark.

As long as the Dax remains above this mark, the rally mode is intact and the target price of 16,200 points applies. For the calculation, the former sideways range of 700 points is added to the upside. For the technical analysts at Bank HSBC, the brands 15,764 and 15,925 points are the next milestones on the way there.

Click here to go to the page with the Dax course, here are the current tops & flops in the Dax.

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