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Iberdrola relies on the bullish guideline and sets course for the all-time highs



In view of the weekly medium-term chart, it has once again become very clear where the support zone is. Has been touching the bullish guideline and restructure upward again without any problem.

Technical analysis

Short term

Medium term

Long term

It must be recognized that the upward reaction of the securities of Iberdrola As soon as we touch the guideline that unites each and every one of the successive increasing minimums since October 2018, it has been manual. Under, the support also seems very clear: the 10 euros. From which it follows that, as long as the underlying does not pierce the support of ten euros, something that seems very unlikely, the normal thing is to continue betting on the main trend, aiming at the resistance it has at the highs annual (which are also historical), in the 12.40 euros. Above it would be placed once again in all-time highs, or what is the same in absolute free rise. With the upward implications that we all know that it has for any price quoted in the market.

Iberdrola weekly chart

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