Rheinmetall Shares Surge to Record High on Defense Demand
Rheinmetall shares have surged to a record high of €2,008, breaking through the €2,000 mark for the first time. This remarkable rise is largely driven by the geopolitical climate, particularly the Ukraine war, which has boosted European defense spending and demand for military capabilities. The company's share price has more than quadrupled from its 52-week low of around €463. Analysts have raised price targets due to better-than-expected revenues and earnings growth. Rheinmetall's position as a key European defense supplier has benefited from historic investment opportunities, fueled by political urgency and financial backing for defense expansion. Over 96,000 shares were traded by midday, indicating above-average activity. The €2,000 mark, previously a resistance level, could now establish itself as a new support zone. A new analysis from October 4 provides guidance on whether to buy or sell the share. The coming trading days will determine if investors continue buying at the current high price level or if profit-taking ends the rally temporarily. The breakthrough above the crucial resistance level of €2,000 confirms the intact upward trend of the Rheinmetall share. However, the coming days will be crucial in determining the share's next move.
