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Investment Recommendations April 21st

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Investment Recommendations April 21st

Introduction

DAX: Short-Term Buy

 

DAX, 4-Hour Chart Analysis

The German index has held up above the 12,000 level despite the selling pressure this week, although it slid out of the rising long-term trend channel. The bullish cross on the MACD indicator suggests a reversal, and a positive outcome on the French election could propel the benchmark back in the channel.

The outperformance of the NASDAQ (see daily analysis) suggests a test of the prior highs, while the recent lows provide an optimal stop-loss level in the case of another leg lower. Further support levels for longer-term positions are found near 11,920 and 11,850.

Bitcoin: Long-Term Buy (update)

 

Bitcoin, 4-Hour Chart Analysis

Bitcoin rallied past the resistance level that kept a lid on the currency for almost two weeks, and it’s now only a few percent off the prior highs near $1295. The move could justify a new stop-loss level for long-term traders. The cryptocurrency is also on a short-term buy signal after the break-out above $1215.

A weaker resistance level is ahead at $1260, while the $1295-$1300 zone might be the next significant hurdle for BTC.  The $1200-$1215 zone should now act as strong support, with last week’s lows just below $1170 offer an optimal level for placing stop-loss orders.

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Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

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