Daeubner: Chart of the Day: Andritz - still a bit risky

The situation is getting tricky for Andritz: The stock trades at around € 50 - a psychologically important level. And even though the stock is in a healthy uptrend, Andritz is trading at a major resistance - making it a bit unattractive for investors as other shares might have more potential. Andritz has tried to break the € 50 resistance several times this summer, but failed over and over again. The stock did do better than most other Austrian stocks, but buying at exactly the resistance level would be a foolish strategy. So waiting for a setback to € 47 would be one strategy; trend-followers might actually enter long positions once the stock overcomes the resistance. But still, Andritz is a bit risky. If you are already invested, this is a good time to trail your stopp-loss to lock in some of your profits made.

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