Basf SE (BAS.DAX30)

Short term

Basf SE has broken through the ceiling of a falling trend channel in the short term. This indicates a slower falling rate initially, or the start of a more horizontal development. The stock has broken an inverse head and shoulders formation. A decisive break, preferably with increasing volume, is considered a confident signal of the start of a rising trend. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the stock has support at approximately 45.30 Euro. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The stock is overall assessed as technically positive for the short term.

Recommendation one to six weeks: Positive (Score: 89)

Medium term

Basf SE has broken the falling trend channel in the medium long term and reacted strongly up. For the time being, it is difficult to say anything about the future trend direction. The stock has broken an inverse head and shoulders formation. A decisive break, preferably with increasing volume, is considered a confident signal of the start of a rising trend. The stock has broken up through resistance at Euro 46.00. This predicts a further rise. In case of negative reactions, there will now be support at Euro 46.00. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the trend break. The stock is overall assessed as technically positive for the medium long term.

Recommendation one to six months: Positive (Score: 98)

Long term

Investors have paid higher prices over time to buy Basf SE and the stock is in a rising trend channel in the long term. This signals increasing optimism among investors and indicates continued rise. The stock is moving within a rectangle formation between support at 40.80 and resistance at 53.02. A decisive break through one of these levels indicates the new direction for the stock. The price has reacted back after the break of the rectangle formation. There is support around 45.56, which now indicates good buying opportunities. An established break through this support will neutralize the positive signal. The stock has marginally broken up through resistance at Euro 46.60. An established break predicts a further rise. The stock is overall assessed as technically positive for the long term.

Recommendation one to six quarters: Positive (Score: 90)