Technical Update - Maersk breaking support. Could drop to 10K
Kim Cramer Larsson
Technical Analyst, Saxo Bank
Maersk B is trading 10% lower after disappointing earnings and outlook this morning thus breaking below March 2023 low at 11,100. Next support at around 10,075. If closing below that level the outlook could be bleak for Maersk investors
Daily and weekly RSI is below 40 threshold i.e., in negative sentiment indicating likely lower levels for Maersk B.
For Maersk to demolish the bearish trend a close above 11,360 is needed.
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