ProSiebenSat.1 Media SE is a German media company and is listed in the DAX. The main business consists primarily of ad-funded free TV, which is broadcast in the German-speaking region. The group has its headquarters in Unterföhrung, and was formed in the year 2000 after ProSieben Media AG and Sat.1 SatellitenFernsehen GmbH merged.
The following analysis will expand on the stock of the company from a technical point of view.
The stock has been in an intact downward trend for quite some time now; this downward trend is characterized by high-volume, fast movements in a southerly direction. We are currently in the correction of the last downward movement.
PSM.DE daily chart with resistance and support
In order to find an entry in the short direction, one should first wait for a reversal of the subordinate trend that is currently still facing upwards (blue arrow). An entry can then be made at the point 2 or in the subsequent correction, with a stop at the point 3 that will have formed by then.
The target area is located at approx. €24.80 (green zone). If the marker around €30.70 (red line) is clearly and sustainably exceeded, one should abandon the short scenario.
PSM hourly chart with outlook
Before trading, one should take news from the environment and from the company into account. Similarly, one should also observe the overall market.
Disclosure of possible conflicts of interest: at the time of publishing this analysis, the author is not invested in the securities or underlyings discussed.
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