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Montebalito: 'throw back' to the old bearish guideline

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The slight downward drip of recent weeks in the Montebalito titles fit perfectly into the typical 'throw back' movement.

Technical analysis
THROW BACK
S1
1,475
S2
1,085
R1
1.99
R2
3.25

Short term

Medium term

Long term

As can be seen in the weekly chart of Montebalito, what we have in front of us is an impeccable support from the price in the new support zone, before resistance, which gave it the bearish guideline since the highs of the beginning of 2017. In fact, recently the price has begun to recover positions marking a resistance zone at 1.99 euros. So, under normal conditions, it is possible to consider as a more probable scenario that the title tries to restructure again upwards with a target of two euros and above it can not be ruled out, even, the maximums of 2017 at 3.20 euros . Now this title has its danger and is nothing other than how narrow it is. How little liquid it is. The volume in the best case is close to 50,000 titles, which means that it does not even trade 100,000 euros / day. Something that is very little and it has its danger. That little we buy / sell, if we do not know how to interpret the market depth, we raise / lower the price strongly by ourselves. It is not easy to enter / exit values ​​as narrow as this. The blows in this company are the order of the day.

Montebalito weekly chart since 2017

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