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Cellnex has a manual reversed 'head and shoulders'

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What we have in front of us is what is known in technical analysis as an inverted head and shoulders bullish implication return figure. Training that we warn last March 23 and that has been confirmed.

Technical analysis
SHOULDER HEAD INVERTED SHOULDER
S1
46.90
S2
43.87
R1
51.06
R2
55

Short term

Medium term

Long term

The strong rises in the titles of Cellnex in recent days have served to overcome the important resistance (now support) of 43.40-43.50 euros. This level is the clavicular line of the lap formation. Which means that, in theory, any potential correction towards this level should be interpreted as a new opportunity to get on the shopping bandwagon. That said, what we have in front of us is a flawless inverted 'head and shoulders' which occurs after a previous fall of 33% and with a 'hammer' at the lows of the fall (session of March 8). In other words, the pattern has been produced where it should. If this is fulfilled, it can be expected that the movement in progress will bring it closer, at least, towards price levels close to the 51 euros (the height of the 'head' of the formation). And above the historical maximums at 53.56 euros.

Cellnex daily chart adjusted for the capital increase

. (tagsToTranslate) Cellnex (t) has (t) & # 039; head (t) shoulders & # 039; (t) inverted (t) manual (t) Category: All (t) Category: Market Report (t) Category: Technical Analysis (t) Category: Pulses (t) Category: Analysis (t) Category: Market Pulse (t) Category: Sectorial: Communications



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