Analysis: Deutsche Telekom shares about to correct - financial expert warns of price resistance!

Analysis: Deutsche Telekom shares about to correct - financial expert warns of price resistance!

According to a report by stock3.com, Deutsche Telekom shares have experienced a strong autumn rally, but the price is expected to soon reach a target area where a correction could begin.

The Deutsche Telekom share (WKN: 555750 - ISIN: DE0005557508) has developed positively since the stock3 Plus analysis from October 30th and has almost reached the next highest resistance level of around EUR 22.00. At this point, the share meets the classic resistance at EUR 22.18 and the price target of EUR 21.98, which refers to the recovery phase from August to September.

It is expected that the rally will slow down at this point and that a correction to EUR 21.14 will occur. At this level, the bulls could become active again and drive the stock back towards the barriers around EUR 22.00. A price above EUR 22.18 could open the possibility of buying the value up to EUR 23.12, the key high from April this year.

In the current constellation, corrections of up to EUR 21.14 can be expected. A bearish scenario, on the other hand, would only occur if the support at EUR 20.98 is broken, which could trigger a correction towards the EUR 20.15 mark.

The approaching correction of the Deutsche Telekom share at this price resistance area is therefore likely to have an impact on the stock market and investors. Investors are expected to adjust their positions and react to the possible correction, which could affect trading activities in the industry.