Volkswagen AG (ord) - daily - techncials only

From a technical aspect Volkswagen looks neutral. The stock has had a very good rally over the course of Q1 2021, however it has found general resistance at €320 level (with the high being €359). The stock has now retreated, and the technical indicators suggest more downside is likely. MACD turned negative on 5th April with the scholastic also turning negative. With that being said, the stock still sits comfortably in the upper Bollinger band and RSI reads 60, meaning the stock is not 'overbought'. To the downside, initial support sits at €287.00 followed by €273. If this low is broken, VW could fall much further. Though that area of control could be a good buying opportunity. To the upside, initial targets/resistance would be €315-€320 followed by €348 and then the highs of €356.