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In theory, the conditions exist for Cellnex to restructure upward again

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In view of the long-term weekly chart, it can be seen how, since last April, the price has been embedded within a broad lateral movement.

Technical analysis
BULLISH LEADER
S1
45.75
S2
43.86
R1
51.14
R2
57.80

Short term

Medium term

Long term

Before anything else go ahead that Cellnex It is one of the most bullish values ​​in our market in terms of the medium and long term. But you also have every right in the world to rest, to take a break (reaction phase). And that's what it seems to be doing. Weekly oversold features extreme readings and we got the price flirting with the straight support that joins the rising lows of 2019 and 2020. It is a straight support, which is not (for the moment) a guideline because we do not have the third point of support or tangency that we must demand of it. But it is true that in view of the long-term chart it can be said that if there is a time for the price to try to restructure upwards again, it is now. In the middle of the support zone. Let's see if the price is able to react from here.

Cellnex weekly chart

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