The Munich Re share: analysis and outlook on the possible trend reversal.

The Munich Re share: analysis and outlook on the possible trend reversal.

According to a report from stock3.com, Munich Re shares have been moving sideways in recent weeks and have failed to overcome the level of the all-time high set in 2000. Although the stock has maintained its bullish condition, it has lost momentum. It is now being analyzed whether the rally phase is over.

The decision about the further course of the stock depends on the upward trend line. If the correction leads below the 61.8% retracement of the last increase at EUR 370.28, the second breakout opportunity would be missed and a collapse to EUR 361.80 would be expected. This price has a medium-term uptrend line, the break of which could trigger a short signal. A sell-off at the price target of EUR 348.10 would then be possible. A trend change could only be determined at prices below EUR 340.00.

On the other hand, the share would have to overcome the price target at EUR 382.70 and the rally high at EUR 384.00 in order to continue the upward trend towards the price targets at EUR 393.00 and almost EUR 400.00. However, there is a risk of a reversal pattern that could halt the uptrend phase and revisit the June and July highs.

Overall, the development of the Munich Re share remains uncertain and it remains to be seen whether the share can continue its upward movement or whether further corrections are to be expected.

Source: According to a report by stock3.com