In Daimler (DAI – Xetra), we have a shoulder-head-shoulder reversal formation in place supported by above average volume and a retest of neckline (dotted line). This suggests of further near-term downside with a minimum target of around EUR 82.50 (-6%).
We therefore go short here at current levels (87.86)
Profit Target: EUR 82.70 (5.87%)
Stop-Loss: EUR 89.95 (2.38%)
Risk/Reward ratio: 2.46
Horizon: < 1 month