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Potential weekly bullish divergences at IAG?

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IAG is the title that falls the most in our selective (-70%) and is followed by Banco Sabadell (-68%) and Meliá Hotels (-58%). They are all companies related to tourism.

Technical analysis
FUTURE BULLISH TURN ON OVERSALES

Short term

Medium term

Long term

Figure back we do not have, but the sensations are not all bad in IAG to the extent that the support of 1.80 euros is respected. It is true that, intraday, it was drilled in this Tuesday's session. But in no case did it close below, much less weekly candles. In fact, if it started to rise strongly from here, perhaps in the end what we have had is a dilation of prices to build up weekly divergences from there. This type of divergence usually brings with it a significant rebound against trend. And, who knows, they may serve to build a market floor. But let's not launch the bells on the fly so soon, because for the moment it is a potential scenario that to be fulfilled requires strong rebounds from the current zone and, above all, do not pierce the 1.80 euros at closing prices on a Friday.

IAG weekly chart

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