E.ON stock rebounds after Trump's Iran announcement eases market fears
E.ON shares retreated noticeably after a strong upward surge in recent days, initially posting losses at the start of the new trading week. But markets breathed a sigh of relief following U.S. President Trump's announcement that, after productive talks, he would extend the deadline for Iran's so-called mullah regime to open the Strait of Hormuz by five days.
The DAX, which had opened with steep losses of over 2% at times, reversed course and climbed more than 2% into positive territory. The move recalled April 9—after the tariff turmoil—when Trump declared it a good time to buy, sparking a sharp rebound from early losses. Whether his latest remarks will have staying power and whether a genuine truce will materialize remains to be seen in the coming days.
For now, however, the outlook has brightened. E.ON's stock also turned positive after dipping below the mid-March low of €18.105 earlier in the morning. The support level at €18.105–18.150 could mark a turning point, as could the 50-day moving average (SMA50), which was breached to the downside this morning.
If the downward correction persists, the stock has another key support at €17.18. Should the price rebound upward, the next logical targets would be the €20.00 mark and the recent high of €20.39.
Beyond that, further upside targets lie at €20.78, €22.23, and €25.35–26.52.
