German Banks Are Strong, Now's The Time To Invest In Them
Roni Stern | Sep 28, 2015 08:14AM ET
One of the greatest advantages in a country like Germany that encourages entrepreneurship within it, and is trying to create a more positive image of itself are the benefits found in the German banks; low interest loans that are offering an incentive for people to loan more, will hike up German banks profits and the firsts to enjoy the changes will probably be no others than Commerzbank (XETRA:CBKG) and Deutsche Bank (XETRA:DBKGn).
In the chart below you can see firstly the daily chart of Deutsche Bank, showing the drastic down trend following the Chinese crisis that started almost two month ago.
You can also see how it finally started to stabilize lately with a solid support on the weekly chart below that one. The marked up lines are my preferences for TP1,2 and 3.
On the next chart we find the Commerzbank stock also in a down trend which started to stable lately once the Fibs 50% level was reached. Along with the RSI indicator that is giving as a 32 over sold area signal we can find a nice option for a very long term LONG. In which the TP's will be the 38.2% and 23.6%.
From my point of view this is the best time to start investing with German solid banks. At least for the next 6-12 months.
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