In the very short term, the Telefónica shares are displaying a narrow lateral movement, with support at 3.90 euros and resistance at 4.50 euros.
Despite all the news that we are getting to know about the operator, the price has still not awakened, immersed in a narrow lateral movement in the last month and a half and within a clear e impeccable bottom downtrend, or primary. In the very short term we have the control zones in the 3.90 euros (support) and 4.50 euros (resistance). That is, only above 4.50 euros will we bet on a movement of price recovery that in the best of scenarios brings it closer to the important resistance zone, previously support, of the 5.30-5.35 euros. In fact, it is that even if it approached this control zone, which is 25% above current levels, nothing would really change. Everything would remain exactly the same. At the bottom, on the side of the supports, we have 3.90 euros and especially the low of March, at 3.53 euros.
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