Unmistakable signs of strength in the Ibex electricity companies that are postulated as a magnificent purchase option in the latter stages of the year.
Iberdrola it has managed to put an end to the correction of the last two months and measured after drawing new all-time highs at 11,515 euros. The Ibex 35 company has managed to overcome the bearish guideline projected from the historical highs of July in addition to managing to overcome the key short-term resistance that it presented at 11.17 euros. The company launches for 11,515 euros, prices that we believe could end up exceeding in the next few days. If this is the case, it would go into a free rise, which would clear the way to end up seeing an extension of profits to the level of 13 euros, prices that we do not rule out that it may end up reaching before the end of 2020.
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Good reaction from Endesa after approaching the average of 200 sessions. Around 22 euros we have once again seen the appearance of purchases, which has led it, like Iberdrola, to exceed the downward guideline projected from the highs in July. It seems that for the next few days we could end up seeing an extension of the gains to the level of 25.36 euros, all-time highs. This would leave the company free to rise, which would make us think about an extension of the profits to the level of 30 euros.
Although it has not managed to define itself as Iberdrola and Endesa, Electric Network is in our sights. The company has been holding in the vicinity of the 200 session average for several weeks. At these prices, it seems very likely that we will end up seeing the return of purchases. However, we should remain on the sidelines as long as it cannot overcome the resistance of 16.55 euros. This would confirm the end of the correction that began in mid-July. If it manages to exceed 16.55 euros, it is very likely that we can end up seeing 18 euros before the end of the year.