The share price of Deutsche Bank (DB) has been bearish in 2014, 2015, and 2/3 of 2016. After September 2016, price started to rally. Perhaps, a price bottom is forming, but it is a little too early to say. Let's take a look at the chart.
Possible Price Bottom:
- As we can see on the weekly chart, price has broken above a falling trendline.
- However, it is still under the 200- and 100-week simple moving averages (SMAs).
- Also, price failed to push above the key resistance around 20.70.
- Still, price price can hold above the 14.80-15 area, it would likely be forming a price bottom.
- A break below 14.80 on the other hand would reflect a market that is still bearish, but at best in consolidation.
- A break above 20.70 is still needed to complete a price bottom and signal a bullish reversal. But we are seeing some early signs now.