Rheinmetall drops 21%: double bottom in the 1130 area arrests the fall

Rheinmetall is in week 20 of a sell signal, with the trade now showing a 41% gain since inception. The week closed with a 21% drop, but the technical picture is beginning to show signs of possible exhaustion: a double bottom in the 1130 area with a 16% intermediate rebound suggests the bearish front may have less fuel than the recent collapse implies.