Audi shares retreat 1% during Wednesday’s session, auto maker’s offices in Germany raided by prosecutors

According to a spokesperson for Audi AG (NSUG), the auto makers headquarters in Ingolstadt and factory in Neckarsulm are being searched by German prosecutors.

Audi shares closed higher for a second straight trading session on Tuesday. The stock went up 0.31% (EUR 2.00) to EUR 642.00, with the intraday high and the intraday low being at EUR 642.00 and EUR 630.15 respectively. In the week ended on March 12th the shares of the German vehicle manufacturer lost 1.45% of their market value compared to a week ago, which marked a sixth consecutive period of decline. The stock has erased earlier gains and is now down 0.74% so far during the current month, following a 5.60% slump in February. The latter has been the first drop in three months and also the largest one since September 2015. For the entire past year, Audi shares lost 6.93%.

As of the moment of writing the stock was losing 1.05% on the day to trade at EUR 635.25 at Deutsche Börse Xetra.

Prosecutors in Munich and Stuttgart have been rummaging offices at the auto makers two factories since approximately 6:00 GMT. The company representative, however, did not provide any details.

It was in November 2015, when the German vehicle manufacturer admitted that emissions control devices, considered as illegal in the United States, were equipped with its 3.0 liter V6 diesel engines.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Audi stock are presented as follows (in Euros):

R1 – 643.09
R2 – 644.17
R3 (Range Resistance – Sell) – 645.26
R4 (Long Breakout) – 648.52
R5 (Breakout Target 1) – 652.32
R6 (Breakout Target 2) – 654.07

S1 – 640.91
S2 – 639.83
S3 (Range Support – Buy) – 638.74
S4 (Short Breakout) – 635.48
S5 (Breakout Target 1) – 631.68
S6 (Breakout Target 2) – 629.93

By using the traditional method of calculation, the weekly levels of importance for Audi AG (NSUG) are presented as follows (in Euros):

Central Pivot Point – 643.07
R1 – 648.18
R2 – 658.37
R3 – 663.48
R4 – 668.60

S1 – 632.88
S2 – 627.77
S3 – 617.58
S4 – 607.40