The stock is down 26% since the start of the year but the technical indicators are currently suggesting a positive stance.

Taking a look at Mercedes-Benz on a daily timeframe, from a technical overview the stock is currently trading at €57.00 a share. Towards the upside, minor resistance sits at €58.16 followed by a further resistance level at €60.00. A break above the €60.00 price level could see the stock climb towards the major resistance at €61.67, which corresponds with the upper yellow trendline. Towards the downside, the first support rests at €55.25 followed by a further support level at €53.81. A break below the €53.81 support level may see the stock fall towards the established support base at €50.20 (lower trendline). Looking at the technical indicators, MACD is positive and RSI reads 59, overall suggesting a bullish approach.