Technology correction continues
The volatility is currently not really high in the stock indices. But there is sometimes enormous movement below the index surface.
In addition to the rotation of capital between industrial sectors, there are also individual movements such as that of Clean Power Capital (CA18452D1069). The stock slid below the chart cliff of key support at $ 1.15 and now has massive momentum on the downside. Currently the stock is down 20.62% to $ 0.96. The next support is only around $ 0.80. So the slide could continue for the next few days.
Today, on the other hand, shareholders and creditors can look forward to Steinhoff International (NL0011375019). Because part of the financial damage caused by the manipulation of balance sheets is now borne by D&O insurance (manager liability insurance). As the group announced today in Stellenbosch near Cape Town, the company will now receive 93 million US dollars. As a result, the share gains 10.41% today to 0.1294 euros.
The share of In the ASA (NO0010081235) closed today in Oslo 4.04% lower at NOK 22.35. However, not much has happened in terms of chart technology. This is because the share has bounced off its steep downtrend and is now sandwiched between this and the medium-term upward trend that it had previously regained. Since the sales are not really high either, an exciting directional decision should be made.
Gamestop (US36467W1099), on the other hand, is currently losing 6.55% to $ 181.75. But here the exciting question is whether there is a raised floor or not. So far, the first part of the floor still holds. Falling below the $ 172.51 mark would nevertheless end this assumption. Should this level hold, however, the share would generate quite a bit of fuel for higher prices.
23.03.2021 – Arndt Kümpel – [email protected]
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