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Sacyr brakes dry at the top of the canal


Since March Sacyr titles are moving with maximum precision within a bullish manual channel. It has been touching the high part and starting to turn down.

Technical analysis

Short term

Medium term

Long term

Over the last weeks / months whenever we have analyzed Sacyr We have been referring to the impeccable bullish channel through which the price has been coming and has been shifting since March. Almost a year in a bullish channel that seems to draw with squad and bevel. Well, our goal has always been placed at the top of the bullish channel, as the most basic theory of technical analysis says. And there we have the title turning down, to the cent, from the top of the channel. Does this mean the uploads are over? Not necessarily. But yes our goal has been achieved and that, therefore, it is possible that over the next few weeks it will go to the base of the canal, now in the immediate vicinity of the 2.30 euros without actually changing absolutely nothing. After all, that's what a channel consists of, moving up and down inside it until the price breaks it on either side.

Sacyr daily chart since May 2018


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