Saturday, June 25

Iberdrola: Put in check the viability of short-term media

The price of Iberdrola It is attacking the support of 9,618 euros per share, consolidating in the short term under its simple moving average of 40 periods or in the medium term, and whose violation, would enable the extension in time and form the decreasing structure that starts from the resistance area identified around 10,334 / 10,294 euros per share, an area that is an approximation to its simple moving average of 200 periods or long-term.

At the same time, it registers a downward turn from the upper trading band of the bottom downward channel, a movement that could have a great impact in the medium term since it threatens the current annual lows that we project from 8,585 euros per share.

For its part, we will not begin to appreciate a recovery in Iberdrola’s listed price until it manages to overcome the aforementioned resistance zone projected from 10.334 euros per share, a movement that would allow updating next bullish targets towards 10.87 euros per share.

Iberdrola on daily chart with average width range (upper central window), MACD (lower central window) and trading volume (lower window)

Iberdrola on daily chart with medium and long-term analysis template

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