BASF share: price collapse and economic situation are negatively affected - How long will the positive momentum last?

BASF share: price collapse and economic situation are negatively affected - How long will the positive momentum last?

After an eventful stock market week with a setback the day before, the situation on the German stock market calmed down on Friday afternoon. The DAX was almost standing still. BASF shares already turned up on Thursday and continued the friendly trend on Friday.

The day before, the collapse in the price of Siemens Energy shares and the losses in Siemens shares had unsettled investors and put pressure on prices overall. Siemens Energy shares fell by over 35 percent as the energy technology group negotiated billions in guarantees for loans with the federal government.

The DAX is recording a moderate loss for the week. At the beginning of the week, the index reached its lowest level since March. The Gaza war, high yields on US government bonds and different quarterly reports from the USA and Germany have recently weighed on the stock markets.

BASF shares continue to have a difficult time due to the tense economy and high energy and financing costs. The chart is still battered, but the bulls are currently trying to stabilize the price above the psychologically important 40 euro mark. In the last 24 hours the price has risen by over 3.5 percent.

It is important that the positive momentum continues and the resistance on GD50 at 34.50 euros is broken as soon as possible. In addition, the attractive dividend yield of 8.3 percent is attractive.

The BASF share surprised with relative strength at the end of the week. The high dividend yield of 8.3 percent is attractive for long-term investors. The new numbers, which will be released on October 31st, will be important in the coming week.

Source: According to a report from www.deraktionaer.de