German equities were trading higher during the previous week, as gains in the Technology, Chemical and Telecom industries pushed shares higher.
At the close on Thursday, the German DAX edged higher by 1.39 percent, the MDAX index gained 0.91 percent, and the TecDAX index rallied by 0.54 percent.
The biggest winners of the session on the German index were Deutsche Bank (NYSE:DB), which climbed 3.62 percent or 0.455 to trade at 13.02, BASF SE (DE:BASFN) NA O.N. (NS:BASF), which gained 3.60 percent or 2.500 to close at 71.940 and Continental AG O.N. (DE:CONG) AG O.N., which rallied 2.86 percent or 5.050 to touch 181.400.
Meanwhile, the biggest losers include RWE AG ST O.N. (DE:RWEG), which dropped 1.25 percent or 0.200 to change hands at 15.745 during late trade, Adidas AG NA O.N. (DE:ADSGN), which plunged 1.10 percent or 1.450 points to close at 129.800, as well as E.ON SE NA (DE:EONGn), which lost 0.87 percent or 0.083 to reach 9.440.
The advancing stocks on the German DAX outnumbered the declining ones by 580 to 284. Meanwhile, 26 stocks remained unchanged on the Frankfurt Stock Exchange.
The German DAX volatility index, which gauges the implied volatility of the DAX options, was lower by 5.03 percent to 19.44—a new 1-month low.
Based on our analysis, the index is holding its ground solidly. We believe that there is still enough room to edge higher, and we are therefore bullish on the DAX in the short term. However, it is important to note that further rallies could be challenging to accomplish.
The German index is set to surge and touch the 10230 level given enough time.