(Finance) – Volkswagen the session is about to close with weakness, with a loss of 1.88%, after the publication of the quarterly results. The big German auto company closed the first 9 months of the year with deliveries down 12.9% to just over 6 million units and revenues up 8.8% to 203 billion euros, while the operating profit grew by 22.5% to 17.1 billion euros and profit by 12.4% to 12.7 billion
The accounts for the quarter show a volume of revenues equal to 70.7 billion (+ 24.2%), while the operating result reached 4.3 billion (+ 64.5%), being less than 4.6 billion. expected and discounting charges related to the suspension of activities in Russia and the IPO of Porsche. Profit stood at 2.1 billion (-26.5%).
Volkswagen has also cut its estimates on deliveries in 2022, which are expected to be in line with 2021, while previously giving them a 5-10% increase on the year before, but confirmed the guidance on the profit for the year.
The performance of the shares of the German car manufacturer in the week, compared to DAXnotes a lower relative strength of the stock, which could fall prey to sellers ready to take advantage of potential weaknesses.
The medium-term scenario is always negatively characterized, while the short-term structure shows some improvement, due to the stability of the support area identified at 126 Euros. The positive short-term movement is indicative of a potential reversal of the bearish trend, with possible attempts to aggression prices towards the important resistance area estimated at 129.8. The possibility of a continuation of the bullish phase towards 133.7 is therefore concrete.