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But be careful: a new technical charts sell signal could trigger a stop-loss avalanche on Wirecard stocks; It would not be the first time. Image and copyright: Wirecard.
05.05.2020 07:52 – Author: Michael Barck 
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At some point, even with Wirecard stocks, it seems to be enough once, and right now it seems DAX has a chance to develop a fund in terms of graphics technology. The fintech company in Aschheim, near Munich, received much criticism as a result of the KPMG audit results of balance-sheet manipulation allegations that have been ongoing for more than a year. It was not even a second-class acquittal that the examiners pronounced with their conclusion: the result was a drop in price from 132.10 to 84.08 euros in 48 hours. However, yesterday Wirecard’s share showed a tendency to stabilize on the Frankfurt Stock Exchange. Although this fell back to EUR 85.01, it rebounded remarkably from XETRA’s daily trading low at EUR 88.33 (-2.29 percent).
Current indications for Tuesday morning are early for Wirecard’s share price at EUR 88.64 / 89.33 and thus remain stable. However, the informative value is still limited, this must be considered.
In terms of graphics, the chances of hitting bottom are mainly due to two support marks: firstly, the two surprising local minima at 84.08 / 85.01 euros from the last three days of trading will be mentioned here. On the other hand, the minimum of the crown pandemic accident is close to 79.68 euros: here you can see a support area of 79.68 / 81.26 euros. In addition to this, also since the shock days in March, there is graphic technical support between these two areas for € 82.88 / € 84.24. Therefore, it is a thick board that the bears have to cut in order for them to fall below this low level. But be careful: a technical sell signal like this could trigger a stop loss avalanche on Wirecard stocks again, as has happened repeatedly in recent months.
On the other hand, there are chances that Wirecard’s share price has been the worst and that DAX shares may bounce back from last week’s drastic losses. A jump over the technical obstacles in the table to 88.20 / 89.60 euros would be a first step. The indications currently show that this area could be in focus. Yesterday, the daily high for Wirecard shares was listed at EUR 89.00. The next hurdles on the chart would be between EUR 94.46 / 95.78 and EUR 96.92 / 97.60. Only an outbreak of this confirms the currently optional recovery scenario and creates room for an increase in Wirecard’s share price in the direction of € 101.60 / 102.20 and more.
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Wirecard speaks clearly: what the company has to say about KPMG’s audit
With the forensic investigation of KPMG’s balance-sheet manipulation allegations, Wirecard finally drew a line in the chapter that has shaped the events in the DAX Group over and over again since the first report in the “Financial Times” at the end of January 2019. But instead of the exemption, there were strong criticisms of Wirecard, first by KPMG, among other things regarding the Fintech group’s cooperation with auditors (we reported), after the stock exchange , which resulted from the audit with a wave of sales in the recognized Wirecard stake. The DAX value recovered from € 132.10 to € 84.08 in two business days and almost reached the low level of Corona again.
It was probably this reaction that made Wirecard one more weekend … read this news from 04.05.2020!
At a glance: chart and news: Wirecard
