In view of the Inditex stock chart, we can see the verticality of the last big bullish momentum. Section that, without a doubt, must be corrected / adjusted before continuing to climb positions.
The bullish rally of the titles of Inditex since December it has been important (+ 16%) and as we sometimes like to remember, nothing goes up forever and ever without its corresponding reaction phase / proportional adjustment of previous rises. What we have been calling for a lifetime: action-reaction phase. In the short term we have a small support at 31.15 euros, a price reference that has been supported twice in recent weeks. The drilling of this in closing prices would confirm a small double roof with bearish implications towards at least 30 euros. But even if it corrected towards the support area, before strong resistance, of the 28.90-29 euros Nothing would have happened here. We would only be talking about a 'throw back' towards the new support area, before resistance.
. (tagsToTranslate) Inditex (t) enters (t) phase (t) reaction: (t) double (t) roof (t) view? (t) Category: All (t) Category: Market Report (t) Category: Technical Analysis (t) Category: Pulses (t) Category: Analysis (t) Category: Market Pulse (t) Category: Sectorial: Retail Trade