Deutsche Telekom shares: price potential and chart analysis - a financial expert gives his assessment

Deutsche Telekom shares: price potential and chart analysis - a financial expert gives his assessment

According to a report by www.4investors.de,

The Deutsche Telekom share reached a new multi-year high in mid-January 2024. Its price rose to 23.33 euros, confirming a new buy signal in the chart. The bid-ask spread on Tradegate was 23,310/23,365 euros. The technical chart hurdles between EUR 22.90 and EUR 23.125 were overcome and the Telekom share continued its upward trend.

Deutsche Telekom is one of the largest telecommunications companies in Europe. It offers a wide range of services for consumers and business customers. The company is also active in the USA, where T-Mobile US, a subsidiary of Deutsche Telekom, is one of the largest providers of mobile services.

The positive developments in Deutsche Telekom's share price could be due to various factors. These may include strong growth forecasts in the telecommunications sector, particularly in the area of ​​5G services. The acquisition of Sprint in 2020 further strengthened T-Mobile US's market position and contributed to the company's stronger growth.

The current technical chart data for the Deutsche Telekom share shows a rising upper Bollinger band, which indicates a continued upward movement. The support levels are at 22.84/22.90 euros and 22.53/22.62 euros. A possible decline could initiate a consolidation of the price, but would not significantly affect the intact uptrend.

Overall, it can be said that the positive developments in Deutsche Telekom's share price can be attributed to the company's strong market position and positive growth prospects in the telecommunications sector. This could also have a positive impact on the market and the financial industry in the future.