The lateral movement since the end of July in the titles of the electric company fits perfectly within what can be a corrective 'abc'.
We have talked at length on numerous occasions about the probably Iberdrola is the most bullish value of the Ibex in the last decade. And again we have him attacking the annual and historical highs at 11.51 euros. In fact, on the intraday, this Thursday we already saw a new all-time high at 11,565 euros. Let's see if this Friday, and also being a weekly closing, it gets it at closing prices. In addition, it would seem that the lateral movement since last July fits perfectly within what is known as a corrective 'abc' which serves to drain / proportionally adjust the significant increases of the previous months. So after a lateral or consolidation movement, the price attacks the annual (and historical) highs again with the intention of exceeding them and building a new upward momentum. We are going to see what the closing of the weekly candle remains but the ideal is that it should be clearly above 11.51 euros.
(tagsToTranslate) finished (t) consolidation (t) Iberdrola: (t) historical highs (t) (t) Category: All (t) Category: Market Report (t) Category: Technical Analysis (t) Category: Pulses (t ) Category: Analysis (t) Category: Market Pulse (t) Category: Sectorial: Utilities