Daimler’s Q2 preliminary earnings beat estimates

Daimler, the automobile group, announced 2Q preliminary EBIT loss of 1.68 billion euros and adjusted EBIT loss of 708 million euros

Uptrend 2

Daimler, the automobile group, announced 2Q preliminary EBIT loss of 1.68 billion euros and adjusted EBIT loss of 708 million euros, compared with market expectations of -2.07 billion euros and -1.72 billion euros respectively, citing "a better than expected market recovery and a strong June performance".

From a chartist's point of view, the stock price remains within an upward-sloping channel since March and is trying to escape from a short term consolidation range. The break above the upper Bollinger bands may indicate that a new up move is on the cards. Next resistance thresholds are set at 41.5E and 44.6E. Prices need to stand above 34.3E to maintain the bullish bias.

Source: GAIN Capital, TradingView

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