In the new year, Commerzbank shares are going from strength to strength. After just a week of trading, a respectable performance has already been achieved. This means that the chart picture has fundamentally changed compared to the end of the year. Now things could happen quickly.
Of course it’s just a snapshot. Nevertheless, Commerzbank shares have gained almost eleven percent since Tuesday last week. The leading index DAX more or less stood still during the same period (-0.9 percent). The European industry index Euro-Stoxx-Banks achieved an increase of 3.4 percent.
In recent years, Commerzbank shares have had, on average, a very profitable January for shareholders. The developments of the last few days have also helped the technical chart situation of the papers.
Because the share has regained the downward trend at 11.30 euros. The volume last week was probably below average, as many market participants were still on vacation. Today, however, the share price continues its strong recovery. In the short term, this could reach the annual high of around twelve euros in 2023. After that, price levels would come into view that have not been reached for several years.
Commerzbank (WKN: CBK100)
The current development is encouraging that the share price can continue its upward trend. On the valuation side, there would definitely be room for improvement with a P/E ratio of 6. The brave can still take advantage.
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Note on conflicts of interest:
The chairman of the board and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, has taken direct and indirect positions on the following financial instruments or related derivatives mentioned in the publication, which may benefit from any price development resulting from the publication: Commerzbank
Commerzbank shares are held in a real portfolio of Börsenmedien AG
2024-01-08 12:55:04
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