<div id="readability-page-1"><p><img width="1152" height="720" src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/06/image-2-8.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/06/image-2-8.png"/></p><p>The DAX Index has pulled back in the past few months as the recent momentum in global stocks pulled back. It dropped to a low of €23,180, its lowest level since June 22, and is hovering at its lowest level since June 23rd. This article explores some of the top companies dragging the index.</p><h2>Adidas is the top laggard in the DAX Index</h2><p>Adidas, the biggest rival to Nike, has become the top laggard in the DAX Index. It has plunged by over 40% from its highest point in February and is now hovering at its lowest level since October 2nd. </p><p>Adidas shares have dropped by 20% in the last 30 days, even as it published encouraging results recently. It operating profit rose by 23% in the third quarter to €736 million, while the net income soared by €485 million. </p><p>Adidas stock has plunged as other companies in the industry, like Nike, Under Armour, and Lululemon, have all retreated. Similarly, newer brands like On Holding have also retreated in the past few days.</p><h2>Zalando shares have plunged this year</h2><p>The other top laggard in the DAX Index is Zalando, one of the top online fashion and lifestyle platforms. It has a market cap of over €5.95 billion, much lower than its all-time high.</p><p>Zalando share price has dropped because of the ongoing challenges in European retail sector. Its most recent results showed that its GMV jumped by 6.5% to €3.49 billion, while its revenue jumped by 7.9% to €2.4 billion. </p><p>The results also showed that the number of active customers rose to 52.4 million from the 49.5 million it had in the same period last year. Most importantly, the company reaffirmed its forward guidance and expects its revenue to rise between 4% and 9%.</p><p>READ MORE: Baidu stock price is in a bear market: will it rebound after earnings?</p><h2>Scout24 crash gains steam</h2><p>The other top laggard in the DAX Index is Scout24, a company that runs ImmoScout24. Scout24 stock has plunged to a low of €86.65, down by nearly 30% from its highest point this year. </p><p>Scout24 stock has dropped despite publishing strong financial results. Its third-quarter revenue rose by 15% to €165 million, while its net income jumped to €101.5 million. The management also narrowed the guidance to the upper side of the range, even as it warned on global uncertainties.</p><p>Other top laggards in the DAX Index in the past 30 days were companies like Fresenius Medical Care, Siemens Healthineers, Symrise, SAP, and Deutsche Telekom.</p><p>On the other hand, the top gainers in the index are firms like Deutsche Post, RWE, Heidelberg Materials, Mercedes-Benz, BMW, Porsche, and Commerzbank.</p><h2>DAX Index technical analysis </h2><figure><img width="1024" height="579" src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/11/DAX-Index-1-1024x579.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/11/DAX-Index-1-1024x579.png"/><figcaption>DAX Index chart | Source: TradingView</figcaption></figure><p>The daily timeframe chart shows that the German DAX Index has pulled back in the past few months. It has dropped from the year-to-date high of €24,778 in October to the current €23,200.</p><p>The index has moved below the important support level at €23,328, its lowest level in September. This price was also along the neckline of the double-top pattern.</p><p>The index has also moved below the 23.6% Fibonacci Retracement level at €23,230. It also dropped below the 100-day Exponential Moving Average (EMA), a sign that bears are in control.</p><p>Therefore, the most likely scenario is where it continues falling, with the next point to watch being the 50% retracement level at €21,600. A move above the 100-day moving average at €23,840 will invalidate the bearish outlook.</p><p>READ MORE: Here’s why the FTSE 100 Index is crashing this week</p><p>The post DAX Index forecast as it loses key support and top laggards revealed appeared first on Invezz</p></div>

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<p>The DAX Index has declined to its lowest level since June, dropping to €23,180. Adidas, Zalando, and Scout24 are major laggards, with Adidas shares down 40% since February. Despite strong financial results, these companies have seen significant stock declines. The index has fallen below key support levels, indicating a bearish trend, with potential further declines to €21,600. Top gainers include Deutsche Post and BMW.</p>