Volkswagen Shares Lose Nearly Two Percent
Volkswagen (VW) shares lose nearly two percent of their value at the start of the week.
It was a weak start to trading for the shares of VW: The title of Wolfsburg car maker on Monday morning, a loss of just under two percent, and are thus the weakest title within the German stock index (DAX). In the first trading hour of the new week, the selling pressure has even intensified. And even if prices are now in the range of a support line (136.54 euros), there is still the danger of further declining prices.
Background: The smoldering trade dispute between the US and Europe continue to weigh on auto values in September. Additional levies on European automobiles make German products more expensive, depress the sales figures and ultimately the prices of German auto stocks. Here is a VW paper today at the top of the list of investors. This can be attributed to the critical charting technique: the long-term uptrend (green line in the monthly chart) was already broken down in June and the downward 200-day line testifies to a beginning turnaround downwards in the medium term.