The Nifty 50 Index rose for five consecutive days, reaching a high of ₹25,200, its highest level since September 23. It has jumped by over 15% from its lowest point this year. This article provides a technical analysis for the blue-chip Indian index and looks at its top gainers and laggards this year.

Nifty 50 Index technical analysis 

The daily timeframe chart shows that the Nifty 50 Index has jumped from a low of ₹21,746 in April to ₹25,165 today. It has remained above the 50-day and 100-day Exponential Moving Averages (EMA). 

Most importantly, the index has formed a bullish flag pattern, which is made up of a vertical line and a rectangle channel. This pattern often leads to a strong bullish breakout over time. 

The index has also jumped above the Ichimoku cloud indicator, confirming a bullish breakout. Therefore, it will likely have a strong bullish breakout, with the next target being at ₹25,660. A move above that level will point to more gains, potentially to ₹26,275, the highest point in September 2024. 

Top Indian stocks in 2025

The Nifty 50 Index has underperformed its global peers this year, with many of them soaring to their all-time highs. One reason for this is that the Indian rupee has crashed to a record low this year. 

Additionally, the stock market has struggled because of the souring relations between the United States and India. Trump added a 50% tariff on most goods from India, citing its high tariff and non-tariff barriers and the fact that the country continues to import Russian crude oil. 

Most companies in the Nifty 50 Index have soared this year. Bajaj Finance’s stock price rose by 50% this year, while Bajaj Finserv has soared by 30% this year. These two companies have continued to thrive in the past few years.

Maruti Suzuki stock price has jumped by 48% this year, while Eicher Motors, Bharat Electronics, Hindalco, and JSW have soared by over 30% this year. Other top gainers in the index are companies like Tata Steel, InterGlobe, Tata Consumer, and Bharti Airtel have all soared. 

On the other hand, the top laggards in the index are Trent, Tata Consultancy, HCL Technologies, Infosys, Wipro, and Tech Mahindra. All these stocks have plunged by over 14% this year. 

Consulting companies like TCS and Wipro have been significantly impacted by the recent decision by Trump to implement a $ 10,000 fee for H-1 B visas. 

The Tata Motors stock price has crashed due to the recent cyberattack against Jaguar Land Rover by the Scattered Lapsus Hunters. The hack led to a bailout as JLR closed down its operations or over a month, leading to over £2 billion in costs. Moody’s downgraded Tata’s business to negative. 

Looking ahead, the next major catalyst for the Nifty 50 Index will be the upcoming earnings. Tata Consultancy will go first on October 9. It will be followed by HCL Tech on the 13th and Tech Mahindra on 14th. 

The earnings season will accelerate ater that, with companies like Infosys, Nestle India, Reliance Industries, ICICI, HDFC, and Kotak Mahindra publishing their numbers.

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The Pi Network price has crashed this week, continuing a downtrend that started on May 12 when it peaked at $1.6690. It plunged to a low of $0.2400, its lowest point since September 22, down by 85% from its highest point this year. So, what’s next for the coin?

Why the Pi Network price has crashed

There are several reasons why the Pi Coin price has plunged this year, bringing its market capitalization to $1.9 billion from the all-time high of nearly $17 billion. 

First, the Pi Network price has plunged because of the ongoing token unlocks, which will continue in the coming years. 

Data compiled by PiScan shows that over 120 million coins will be unlocked this month. Another 1.24 billion tokens will be unlocked in the next 12 months, with the monthly average being 28.6 million coins. 

Token unlocks are bearish for a cryptocurrency because they boost the circulating supply. Worse for Pi Network, this is happening at a time when demand for the coin remains muted. 

Data compiled by CoinMarketCap shows that the volume jumped to $50 million in the last 24 hours, a small amount for a coin valued at over $1.9 billion. The lower volume means that its liquidity remains low.

One reason why Pi’s liquidity has plunged over time is that it is only available in a handful of exchanges like OKX, MEXC, Bitget, and Gate. It has not been listed by popular tier-1 exchanges like Coinbase, Bybit, and Upbit. The lack of an exchange listing also explains why it has plunged in the past few months.

Further, the token has plummeted as interest among pioneers waned after the mainnet launch in February this year. Before the launch, most pioneers were mining it hoping to cash out in a big way once it went public.

Pi Network price surged immediately after the mainnet launch and then plunged by over 90%. Most pioneers who held the coins sold them as they dropped and avoided buying the dip.

Read more: Pi Network price prediction 2025 – 2030 after the mainnet launch

Pi has become a ghost chain

Further, Pi has become a ghost chain, which is defined as a network without any supportive ecosystem of applications. Think of a chain like Ethereum without apps like Aave and Uniswap.

One reason why Pi Network has become a ghost chain is that top developers like Aave and Uniswap have avoided it. Also, apps built on the ecosystem are only available on the Pi Browser, creating a long layer that many people would want to avoid.

Pi Network’s developers have tried to boost the ecosystem growth, a process that has not achieved substantial results. For example, they launched a $100 million fund to invest in startups, and most recently, they launched the Pi AI Studio.

Finally, it has plunged because of its centralization, with the Pi Network Foundation controlling billions of tokens in hundreds of wallets.

What can boost the Pi Coin price?

The Pi Network price can bounce back if the developers made some minor adjustments. First, it would soar if they announced a major token burn to dramatically reduce the number of tokens in circulation and those that will ever be mined. 

A token burn announcement can boost a price as we experienced with OKB, which jumped by triple digits after announcing a major burn. The developers incinerated over 62 million coins and put a circulating limit to just 21 million coins. BNB price has also jumped to over $1000 after the team launched a major token burn procedure.

The other potential catalyst would be to make it a fully decentralized network, a move that would make exchanges more comfortable listing it. As things stand, many exchanges are afraid of listing it because of the control that the company has.

Also, the coin would do well if they made it a more friendly chain for developers to build decentralized products. 

READ MORE: Pi Network price prediction: Here’s why the Pi token has crashed

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Tilray stock price has been in a strong bull run in the past few months, making it one of the best-performing companies in Wall Street. TLRY jumped from a low of $0.355 in June and peaked at $1.88 this month. So, will the stock continue doing well as it publishes its earnings this week?

Tilray Brands to publish its earnings

The Tilray stock price has been in a strong rally in the past few months. This growth was not because of its strong business performance. 

Rather, the company’s performance was mostly because of industry tailwinds as Donald Trump hinted that he would support the reclassification of marijuana into a less dangerous drug.

The enthusiasm of this process jumped after he shared a clip promoting the use of cannabis drugs by the elderly. However, he has not confirmed fully that he will support the industry as Joe Biden did. 

The next important catalyst for the TLRY stock price is the upcoming earnings, which will provide more color about its business. 

These results will be important because the last earnings report was worrying. The company said that its net revenue dropped to $224 million in the fourth quarter after making $229 million in the same period last year. 

Tilray Brands’ gross profit dropped to $67.6 million compared with $82.4 million in the same period last year. Most importantly, there are signs that the diversification efforts are not paying off. 

The diversification drive is faltering

For one, the beverage division made a revenue of $65.6 million in the quarter after it made $76.7 million in the same period last year. Its gross margin of 38% was also lower than the previous quarter’s 54%. This is notable because the company has spent millions of dollars acquiring beer brands from companies like Molson Coors and AB InBev. Its goal was to offset the weak performance of the cannabis segment. 

For the year, the beverage segment revenue rose by 19% to $240 million. The company blamed the weak performance of this segment to Project 420 and the national SKU rationalization. It hopes that the approach will lead to about $25 million in synergies.

The decline is also likely because Americans are not drinking as much beer as they used to in the past. Per capita beer consumption has been in a downtrend, which explains why stocks like Anheuser-Busch InBev, Molson Coors, Boston Beer, and Brown-Forman have plunged in the past few months. 

Tilray Brands’ cannabis business is not growing. Its revenue fell to $67.8 million in the fourth quarter, with the management blaming it on the pausing of vape and infused pre-roll categories. It also blamed it on international medical cannabis product delays.

At the same time, the company continues to lose substantial sums of money. It suffered a net loss of over $1.2 billion in the fourth quarter and $2.1 billion in the last financial year.

Therefore, the upcoming results will provide more information about its revenue and profitability growth, which will have an impact on the stock.

Tilray stock price technical analysis

The daily chart shows that the TLRY stock price jumped from a low of $0.355 in June to a high of $1.88 this month. It formed a cup-and-handle pattern, which is a common bullish continuation sign. 

Tilray stock has recently moved above the upper side of the cup at $1.52 and is now attempting to retest it. A break-and-retest pattern is one of the most bullish chart patterns in technical analysis. 

Therefore, there is a likelihood that the stock will bounce back in the coming weeks. If this happens, the initial target to watch will be this month’s high of $1.88 followed by the psychological point at $2.

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IonQ and Rigetti stock prices have jumped in the past few years, transforming them into multi-billion-dollar companies. RGTI stock has jumped by 5,255% in the last 12 months, bringing its market capitalization to over $12 billion. 

IonQ stock, on the other hand, has jumped by 692% in the same period, bringing it valuation to over $23 billion. This article explores why these companies are pointing to a quantum computing bubble that could pop in the coming months or years.

Why quantum computing stocks have soared

Quantum computing stock like IonQ and Rigetti Computing have done well as investors bet that the industry will become the next big thing in the technology industry.

Some experts believe that the industry might become the next big thing once the artificial intelligence hype fades. This view is supported by reports by some of the most respected organizations in corporate America. 

McKinsey, a top consulting company, noted that the industry would likely jump into a $100 billion market by 2030 and that companies in the sector will hit $95 billion in revenue by 2035. The report also predicted that the industry will be worth almost $200 billion by 2040.

Meanwhile, Boston Consulting Group (BCG), another top player in the consulting industry, predicted that the industry will create up to $850 billion in economic value by 2040. 

Therefore, IonQ and Rigetti are doing well as investors predict that they will become the main beneficiaries when the industry takes off.

IonQ stock price and valuation disconnect

One example of why the quantum computing industry could be in a bubble is IonQ, whose stock has jumped in the past few years. This jump has been much bigger than what we predicted before it started. 

IonQ is now a company worth over $23 billion, yet it has limited earnings and revenue. The most recent results showed that the company had a revenue of $20.6 million in revenue, bringing the six-month figure to $28 million.

IonQ generated a net loss of $176 million in the quarter and $209 million in the year’s first half. Analysts expect that IonQ annual revenue will be $91 million this year and $171 million in the next financial year.

At the same time, IonQ’s earnings are expected to be in the red for a while, with the earnings per share expected to be 72 cents this year and $1 next year.

Therefore, while the company is growing, it is hard to justify a price-to-sales ratio of 303. 

Rigetti Computing is an $11 billion company without revenue 

Meanwhile, Rigetti Computing is a company valued at over $11 billion that has no revenue and is losing substantial sums of money.

The company said that its revenue in the last quarter was $1.8 million, while its net loss stood at over $39.7 million.

Analysts expect that its annual revenue this year will be $8.15 million, down by 24% from the same period last year. It will then make $21 million next year.

As with IonQ, it is hard to justify a price-to-sales ratio of over 1,000 in a company, unless it is seeing robust revenue and earnings growth.

Some analysts have also argued that we are in an AI bubble. The main difference between the AI and the quantum computing industries is that in AI, companies like NVIDIA, AMD, and Palantir are seeing strong revenue and earnings growth. 

In quantum, the biggest companies in the industry have achieved premium valuations while not having any earnings growth.

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Plug Power stock price continued its strong rally this year as Wall Street analysts remained upbeat about the company. It also jumped on optimism that Donald Trump’s policies will not be as harmful to the company as expected. 

PLUG stock ended the week at $3.8 and then soared to $4.60 on Monday. This means that it has jumped by over 580% from the year-to-date low of $0.6867. Its market capitalization has soared to over $4.5 billion, while the short interest is up to 30%. 

Why the Plug Power stock price has jumped

Plug Power share price has been in a strong bull run this year. The current surge happened after H.C. Wainwright boosted its target price substantially, pointing to the demand for hydrogen in the power sector. He boosted the stock target to $7, noting that:

“We believe that if electricity prices continue to trend higher, green hydrogen is likely to become increasingly price-competitive and case for adoption becomes stronger.”

Plug Power stock price also jumped after the company said that it had delivered its first electrolyzer array to Galp, a leading energy company in Portugal. 

Precisely, the product was delivered to its Sines refinery, which is the biggest proton exchange membrane hydrogen electrolyzer project in Europe. The delivery is a sign that its products are having strong demand.

Additionally, the company has done well as investors reflected on the Trump administration, which has continued giant funding that was approved by the Biden administration. 

The company will receive a $1.55 billion DoE loan that will be used to fund up to 6 green hydrogen and liquefaction plants across the country.

Strong financial results

Plug Power stock price has also jumped after the company published strong financial results. The numbers showed that its revenue rose to $173 million in the three months to June, higher than the $143 million it made in the same period this year.

Most of the revenue – $99 million – came from the sale of equipment and related infrastructure. The rest of the revenue came from the power purchase agreements, fuel delivered to consumers, and the services it offered on fuel cells.

The results also showed that the company’s net loss narrowed during the year’s second quarter and the first half. It made a loss of $228 million in the last quarter, an improvement from the $262 million loss it made in the same period last year. 

The loss in the year’s first half was also lower than last year. Therefore, analysts expect that the company’s business will continue improving.

The other potential catalyst for the ongoing Plus Power stock price surge is that this is primarily a short squeeze because it is one of the most shorted companies globally. 

SeekingAlpha data shows that over 358 million shares have been sold short, giving it a short interest of 31%. It is common for a highly shorted company to surge, especially when there is a strong surge in the stock market.

Plug Power share price technical analysis 

The daily timeframe chart shows that the PLUG stock price has been in a strong uptrend in the past few months, moving from a low of $0.6976 in May to $4.50 today.

It has jumped above the important resistance level at $3.30, its highest level on June 7. It remains above all moving averages, while the Relative Strength Index (RSI) and the MACD indicators have continued rising.

Therefore, the stock will likely continue rising in the near term, and then it will reverse when the momentum ends. In this case, a drop to the key support at $3.30 cannot be ruled out.

Read more: Insiders are buying Plug Power stock: is a short-squeeze coming?

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Canadian stocks are firing on all cylinders this year, with the blue-chip TSX Composite sitting at its all-time high of $30,470. It has jumped by over 37% from its lowest level in April. This article explores some of the top reasons why it has jumped this year and what to expect. 

TSX Composite Index has jumped as global stocks jump

The TSX Composite Index has been in a strong uptrend in the past few months because of the ongoing surge in global stocks. In the United States, the top indices like the S&P 500 and Nasdaq 100 have all jumped to a record high this year. 

Similarly, in Asia, stock indices like the Hang Seng, Nikkei 225, and KOSPI have all jumped to their record highs. It is common for Canadian stocks to jump whenever there is a global stock market rally. 

Upcoming Donald Trump and Mark Carney meeting

The TSX Composite Index has jumped in the past few months as investors await a meeting between Mark Carney and Donald Trump in Washington this week. The two leaders will most likely talk about tariffs and the trade relations between the US, Canada, and Mexico. 

Analysts and investors are optimistic that the two countries will reach a deal to exempt Canada from some tariffs, a move that would benefit the country’s stock market. However, the TSX Composite Index will likely retreat after the meeting as investors sell the news.

Soaring gold and silver prices

The TSX Composite Index is benefiting from the soaring silver and gold prices this year. Silver has jumped close to $50, while gold is nearing the important resistance level at $4,000.

This surge has benefited numerous companies that provide these products in Canada. Discovery Silver Corp stock has jumped by 610% this year, while SSR Mining, Lundin Gold, Novagold Resources, New Gold, Aris Mining, and Oceanagold have all jumped by over 158% this year. 

Other companies in the gold and silver mining industries have also had strong gains. They include companies like Kinross Gold, Sandstorm, Barrick Mining, First Majestic, and Agnico Eagle Mines have all soared this year. 

Bank of Canada interest rate cuts

The TSX Composite Index has also soared because of the recent BoC rate cuts. It slashed rates from 3% to 2.75% in March after holding them steady for a while. It then slashed rates to 2.75% in the last meeting as the economy contracted. 

Analysts expect that the bank will deliver two more cuts this year, ending them at 2.25%. These interest rate cuts have brought its 10-year bond yields from 3.65% in August to 3.18%. It has also formed a bearish flag pattern, pointing to more downside. 

Therefore, investors have rotated from Canadian bonds to the stock market. Besides, the TSX Composite has a dividend yield of 3.4% and is still growing.

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Bitcoin price and the broader crypto market are going up this October or Uptober, as it is commonly known. BTC jumped to a record high of $125,725 on Monday, continuing a recovery that started late last month when it bottomed at $108,662. 

The broader crypto market has also done well in the past few days. As a result, the market capitalization of all coins has jumped to over $4.36 trillion today. This article highlights some of the top reasons why BTC and other altcoins are in a strong bull run this year.

Bitcoin price soaring as safe-haven bets jump

The first main reason why the Bitcoin price is in a strong uptrend this month is that it has become a safe-haven asset as the government shutdown has occurred this year. This also explains why the gold price has soared in the past few days, hitting a record high.

Investors see Bitcoin as a safe haven for several reasons. One, it has some of the best tokenomics among major assets because its supply is capped at 21 million and most of the coins have already been mined.

Of the mined ones, millions of the coins have been lost permanently, while millions others are held by companies that have no intention to sell. As a result, the supply of Bitcoin in exchanges has continued falling this year.

At the same time, the Bitcoin supply rate adjusts every four years because of the halving event that slashes the block reward given to miners. As such, the Bitcoin mining difficulty has constantly been in a strong uptrend over time.

Therefore, Bitcoin is seeing strong demand as supply growth slows. One sign that the Bitcoin demand is soaring is that ETF inflows have continued soaring. 

They jumped by almost $1 billion on Monday, bringing the cumulative inflows to over $61.25 billion and the total amount in these funds at $170 billion. 

The iShares Bitcoin Trust (IBIT) has moved to $100 billion in assets, while Fidelity’s FBTC has $26 billion in assets.

Crypto market rising as Fed interest rate cuts odds jump 

The crypto market has also soared as investors reflected on the recent Federal Reserve interest rate cut. It slashed interest rates by 0.25% to between 4.0% and 4.25% and hinted that it will deliver more cuts later this year.

The possibility of another cut rose after ADP published a weak jobs report last week. It noted that the economy lost 36,000 jobs in October after losing another 3,000 in the previous month. 

Another report by the ISM showed that the services PMI dropped significantly in October as business conditions worsened.

Therefore, the bank will likely cut interest rates by 0.25% this month now that the government shutdown will hurt the economy. Bitcoin and the crypto market normally thrive when the bank is cutting interest rates or when it embraces a dovish tone.

Altcoin ETF approvals and October seasonality 

The other main catalyst for the Bitcoin and the crypto market rally is that Donald Trump has sounded open to talk with Democrats on Healthcare to end the shutdown. 

Such a move would benefit the crypto market by ensuring that the Securities and Exchange Commission goes back to work and starts approving ETFs on altcoins like XRP, Cardano, and Solana.

Also, the crypto market is doing well because of seasonality reasons. Bitcoin and other crypto prices normally perform well in October, with the average BTC return since 2013 being about 79%.

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The Topix and Nikkei 225 Index jumped to a record high this week, continuing a trend that started in April when it plunged to ¥30,775. The Nikkei Index jumped to a high of ¥48,200, up by 56% from the year-to-date low. 

Similarly, the Topix Index soared from ¥2,242 to ¥3,235. This article highlights some of the top reasons why Japanese stocks are in a strong bull run and are hovering at a record high. 

Topix and Nikkei 225 Index soaring after Sanae Takaichi’s win

The main reason for the ongoing Nikkei 225 and Topix rally is that Sanae Takaichi won her party’s leadership position. This means that she will become the country’s first woman prime minister. 

Analysts believe that Takaichi will be a good prime minister for stocks and bad for the yen. They expect her to promote the low-interest-rate policies popularly known as Abenomics that were championed by the Late Shinzo Abe. However, Citi analysts cautioned that the rally may not last long, saying:

“Upside in the equity rally is likely limited as stocks have already risen to record-high levels and Japan equities are not undervalued relative to US or global equities after adjustments in laggard tendencies. Equities have also priced in expectations for easier fiscal policy to some extent.”

Japan stocks have mirrored their global counterparts

The Nikkei 225 and Topix Indices soared as the global stock market jumped. In the US, the S&P 500 and Nasdaq 100 Indices have soared to their all-time highs amid the ongoing AI spending boom. 

The same trend is happening in Asia, where the Hang Seng Index and other indices are in a strong rally. This surge has happened even after Donald Trump implemented substantial tariffs on goods brought from all countries, including Japan. 

Goods from Japan are being taxed at about 15%, in line with most countries. At the same time, the country committed to $7 billion a year in energy purchases and to make a $550 billion in the United States.

BoJ reluctance to hike interest rates

The other main reason why the Nikkei 225 and Topix indices have soared lately is that the Bank of Japan has been reluctant to hike interest rates this year. 

It delivered a 25 basis point hike in January, the first back-to-back rate hike in over 17 years. The increase brought the benchmark rate to 0.50%. 

However, unlike what analysts were expecting, the bank has left rates unchanged this year, and analysts now believe that it will leave them unchanged as inflation has made steady progress.

Recent data showed that the headline Consumer Price Index (CPI) slipped to 2.7% in August from 4% in January this year. This trend may continue as the stronger dollar makes it cheaper to import. 

Federal Reserve rate cuts

The Nikkei 225 and Topix indices soared after the Federal Reserve slashed interest rates in the last meeting. It cut rates by 0.25% and hinted that it would deliver more cuts in the coming meetings. 

Fed cuts are normally bullish for the stock market as they lead to a risk-on sentiment globally.

The Fed slashed interest rates because of the ongoing trends in the American economy, where the labor market has worsened in the past few months. A recent report showed that the economy lost 36,000 jobs in September. 

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The CAC 40 Index remained under pressure this week as investors reacted to the political crisis in France. The index, which tracks the biggest companies in France, was trading at €7,970 on Monday, down from last Friday’s high of €8,092. 

Why the CAC 40 Index is falling

The CAC 40 Index slumped on Monday after Sebastien Lecornu resigned a the prime minister a month after his appointment. His resignation has intensified the political crisis that has been going on in the past few months. 

Lecornu has been the country’s sixth prime minister since 2020. The main reason for the increasing turnover has been the ongoing debt issues and how to deal with the pension crisis. 

Therefore, the crisis has led to higher government bond yields, with the ten-year rising to 3.60% on Monday from 3.50% on Friday. It has been in an uptrend after bottoming at 3.15% in June last year. 

The rising bond yield means that some investors are moving to fixed-income assets that are offering a higher return. This rising bond yield is happening even as the European Central Bank (ECB) has slashed interest rates since last year. 

The CAC 40 Index has also underperformed other global indices because of its exposure to China, a country where demand for luxury goods has cooled. 

Top gainers and laggards in the CAC Index this year

Most companies in the CAC 40 Index have jumped this year. Societe Generale’s stock has jumped by 100%, making it the best-performing company in the index. The third-biggest bank has done well because of the ongoing strong performance.

Societe Generale made over 13.9 billion euros in revenue in the year’s first half a 8.6% increase from the same period last year. Its costs dropped by 2.6%, while the net income was €3.1 billion. 

The company also upgraded its forward guidance and changed its dividend paying policies. It will now be paying a dividend every fourth quarter of the year and is also repurchasing its shares.

Thales stock price has jumped by over 53% this year, mirroring the performance of other European defense companies. The other top gainers in the index are companies like Safran, Orange, Bouygues, Airbus, and BNB Paribas. 

On the other hand, the top laggards in the index are companies like Edenred, Stellantis, Renault, Pernod Ricard, Capgemini, and Publicis Groupe. All these shares have plunged partly because of Donald Trump’s policies.

CAC 40 Index technical analysis 

The daily timeframe chart shows that the CAC 40 Index has rebounded in the past few months, moving from a low of €7,523 in August to a high of €8,092. It has moved above the important resistance at €7,950 and the 50-day and 100-day Exponential Moving Averages (EMA). 

It has also formed a break-and-retest pattern, which is a common continuation sign. Therefore, the index will likely have a strong bullish breakout, potentially to the important resistance level at €8,500. A move below the support at €7,800 will invalidate the bullish forecast. 

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The DAX Index has held steady in the past few days and is hovering at near its all-time high of €24,635. It was trading at €24,378 today, up by over 32% from its lowest level in April. This article highlights why the blue-chip German index is rising and the top movers this year.

Reasons why the DAX Index is soaring

There are three main reasons why the German DAX Index is in a strong rally this year. First, the rally is being supported by the actions of the European Central Bank (ECB), which has slashed interest rates several times and brought them to 2% this year.

It is common for the stock market to do well when the central bank is cutting interest rates as this makes the equities market more interesting than bonds.

The index has also reacted positively to the interest rate cuts by the Federal Reserve, which cut them by 0.25% in the last meeting in September. Analysts expect that the bank will cut interest rates again later this year.

The DAX Index has also jumped because of the general correlation with the other global indices like the Hang Seng, Dow Jones, and the S&P 500. Historically, these global indices have had a close correlation with each other.

Additionally, the index benefited from the increased government spending in Germany as officials sought to supercharge the economy.

The gains, however, have been limited by Donald Trump’s tariffs, which have applied on all goods that Germany sells to the United States, especially its vehicles. Trump has warned that he will add a 25% tariff on trucks, a move that will affect Daimler Trucks, one of the biggest players in the industry.

Porsche, the maker of luxury vehicles, has been one of the most affected companies by Donald Trump’s tariffs as the US is its only growing market. The most recent results showed that the Chinese business has continued to deteriorate, while Europe is not growing. Porsche makes all its vehicles in Germany, meaning that it has to pay more in tariffs than other manufacturers.

Top gainers and laggards in the German DAX

The top gainer in the DAX Index this year is Rheinmetall, the giant company in the defense industry whose shares have jumped by 207% this year amid increased defense spending. 

Siemens Energy share price has soared by 112% this year and 211% in the last 12 months, making a spectacular comeback for a company that received a government bailout a few years ago. Its performance has happened because of the ongoing demand for power globally.

The Commerzbank share price has jumped by 100% this year, helped by the ongoing speculation that Unicredit will make a full bid for the company. 

The other top gainers in the DAX Index this year are Deutsche Bank, Heidelberg Materials, Bayer, E. On, Fresenius, and RWE. On the other hand, the top laggards in the index are Symrise, Beiersdorf, Adidas, Zalando, and Merck.

DAX Index technical analysis 

DAX chart | Source: TradingView

The daily timeframe chart shows that the DAX Index has rebounded in the past few days, moving from a low of 23,347 in September to a high of 24,400 today. It is now hovering near the year-to-date high of 24,635.

The index has remained above the 50-day and 100-day Exponential Moving Averages (EMA). It has also formed an ascending triangle pattern, which often leads to a strong bullish breakout over time.

Therefore, the most likely scenario is where it jumps in the coming weeks and hits the important resistance level at 25,000. A drop below the support at 24,000 will invalidate the bullish outlook.

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