Trading Idea - #Volkswagen

My trading idea for Volkswagen - Buy / LONG
Target: EUR 143.00 (+8% gain)

VW has sold more electric vehicles worldwide than in the first quarter of the year. This is a positive business development despite supply bottlenecks.

It is becoming apparent that many automotive suppliers have reached a low point in their business development. Nevertheless, the car manufacturers themselves continue to act very strongly.

In the second half of the year, profit momentum could pick up again as China plans tax reductions. From today's viewpoint, VW would be one of the biggest beneficiaries.

Better outlook for the second half of the year is expected due to the end of the semiconductor shortage, which is becoming more and more apparent.

From a technical chart perspective, we are in a support area both in the short term (15M) and in the long term (1D), which makes buying the share attractive.