Trading Idea - #SiemensAG
My trading idea for Siemens AG - SHORT
Target: EUR 89.00 (profit potential 12%)
The Siemens AG share is in an intact downward trend. In mid-June, there was a sharp drop below the support level of 114.00 EUR. The resistance around the EUR 109.00 mark was then confirmed several times. The next historical support at EUR 89.00 is expected to be targeted.
Like the entire industry, Siemens is also expected to be slowed down by weakening demand and an unfavourable price-cost ratio.
Analysts estimate a profit decline of up to 20% for 2023.
Target: EUR 89.00 (profit potential 12%)
The Siemens AG share is in an intact downward trend. In mid-June, there was a sharp drop below the support level of 114.00 EUR. The resistance around the EUR 109.00 mark was then confirmed several times. The next historical support at EUR 89.00 is expected to be targeted.
Like the entire industry, Siemens is also expected to be slowed down by weakening demand and an unfavourable price-cost ratio.
Analysts estimate a profit decline of up to 20% for 2023.
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