The Allianz share has been showing positive momentum, approaching significant resistance levels. In the latest trading session, the stock gained 0.3% and reached a price of EUR 297.50. This upward movement follows a strong performance in November, where the share not only increased by 1% but also broke above the downtrend line from October.
In December, the bullish momentum has continued, with the share price rising an additional 1.5% and surpassing the 50-day moving average. Market analysts are now focusing on the November high of EUR 298.00, with the psychological barrier of EUR 300 being a critical target. A successful breakout above this level would close the price gap from October 22 and potentially pave the way for further gains.
If the stock maintains its upward trajectory beyond this gap, the current yearly high of EUR 304.30 could come into play, with potential for additional price increases towards EUR 320.00.
While the outlook appears positive, there are downside risks to consider. The immediate support level is at the short-term 50-day moving average of EUR 292.70. If the share price falls below this threshold, the interim low of EUR 288.30 and the October downtrend line could provide critical support. A breach of this double support could signal further declines, potentially reaching the October low of EUR 282.20 or the medium-term 100-day moving average at EUR 281.85.
In a more bearish scenario, if the Allianz share falls below the significant April high of EUR 280.00, a correction towards the long-term 200-day moving average at EUR 272.64 would need to be considered. Monitoring key technical levels is important as they can significantly influence trading strategies and investor sentiment.
The Allianz share remains a focal point for traders and analysts, reflecting broader trends in the financial landscape.