Daimler’s Q2 preliminary earnings beat estimates

Market chart showing uptrend
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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