The slow but continuous trickle down of ACS titles from the historical highs that were reached in 2019, bring the title closer to important support levels.
Attentive to the titles of ACS, that after drilling the important support zone that unites the growing minimums of 2016, 2018 and 2019, is in a delicate moment of very short term. In fact, there is no support whatsoever until the minimum of August 2019 at 32.30 euros. That's where the key is in the short term.
The construction company, as soon as it opened its doors this Thursday, fell sharply and left 7% after announcing a negative impact of 400 million euros. Thus, the price is attacking the support of 32.30 euros that we commented before the opening of the session. Leaving the possibility that the title continues correcting, bounces apart, towards what is now the support area of approximately 29.50 euros. What the graph is telling us clearly indirectly is that as long as the bearish 'gap' is not closed (canceled) on Thursday, at 33.70 euros, short-term 'trading' bias will remain bearish. Not so the long term that remains clearly bullish.
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