Deutsche Bank (DB) has been in a downtrend for more than seven years, and the decline does not appear over. We spent some time today tweaking our point and figure chart to come up with a new, lower price target.
In this weekly, close only, point and figure chart of DB, below, we can see the long-term decline. The software is now showing a potential downside price target of $3.50.
Bottom line strategy: It rarely pays to fight the trend. Just because prices are low does not mean that they cannot go any lower.