Sunday, October 2

What is behind the increases of Iberdrola? This says your graph

One hour before the close of the session on Tuesday, Iberdrola leads the increases in the Ibex 35, with a rise of more than 2%, in a day in which we see increases for other companies in the sector, such as Naturgy (Natural Gas) or Endesa.

According to the independent analyst Ramón Bermejo, the graph describes a double-bottom pattern and if it manages to exceed the level of 10.12 in a daily close, we could see recoveries of 3.43% to 10.48 euros, covering the gap that we see in the graphic.

Another positive element is the violation of a downward trend line, drawn from the annual highs this year, on January 8. By violating this line, the objective could go up to 10.65, with a recovery of just over 5%.

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