Trade of the week: long DAX 40
Since the DAX 40 index seems to have resumed its medium-term uptrend, we would like to go long with a stop loss below last week’s low at 17,790 and an upside target between 18,500 and 18,600.
(AI Video Summary)
Previous Dow Jones trading outcome
This week's "Trade of the week" financial insight focuses on strategic movements in the stock market as of 29 April, 2024. The highlight is on advising investors holding positions in the Dow Jones, with IG analyst Axel Rudolph suggesting an adjustment of the stop loss from below the April low to just under the previous week's low at 37,235, aiming for a potential rise towards 39,000.
This week's trading opportunity
Furthermore, the DAX 40 index has presented an opportunity for a long position following a bullish signal, with a suggested stop loss at last week's low of 17,790 and targeting gains between 18,500 to 18,600. These insights are critical for investors looking to maximise their portfolios through tactical adjustments and timely entries in both the Dow Jones and DAX 40 indices.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
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