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IAG's lateral consolidation appears to be coming to an end

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Since the end of February, IAG shares have been displaying a lateral consolidation movement (reaction phase) that is gradually narrowing.

Technical analysis
BEAR GAP
BEAR GAP

Short term

Medium term

Long term

IAG record losses in the first quarter of 1,067 million euros compared to the red numbers of 1,683 million euros in the same period a year ago. Losses from operations in the first quarter were 1,068 million euros, compared to losses from operations of 1,860 million euros last year. From the point of view of technical analysis, the value is consolidating the previous important increases, which took the value from 1.50 euros to 2.57 in a month and a half. You know, action-reaction phase.

In any case, what is striking is that the period of lateral consolidation since the end of February is today a tracing, a copy of the consolidation that the title carried out during the months of November until the end of February. If we superimposed one on the other we would realize that today they are a carbon copy. We are going to see if the value finally ends up jumping above the resistance of 2.57 euros and about to close, soon, the weekly downward gap of March 2020 that we have talked so many times in the 2.6160 euros. From the moment we close it, or what is the same is canceled, we will begin to see the airline's titles with different eyes. Let's see how the title surprises us today after knowing the results.

IAG weekly chart

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