Short term opinion: Limited decline
Short term Evol.:
Mid term opinion: Consolidation
Mid term Evol.:
Supports: 5,78 / 5,71 / 5,63
Resistances: 6,35 / 6,48 / 6,56
Iberdrola ST: below its lower Bollinger band
Alternative scenario: the upside breakout of 6.35 would call for 6.48 and 6.56.
Our pivot point stands at 6.35.
Our preference: the downside prevails as long as 6.35 is resistance.
Alternative scenario: above 6.35, look for 6.48 and 6.56.
Comment: the RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 6.35 and 6.41). Finally, Iberdrola is trading below its lower daily Bollinger band (standing at 6.18).
Supports and resistances:
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 10-12-2018 at 16:19 UTC+1
Price reference: 6.06 last known on 10-12-2018 at 16:19 UTC+1
Investment horizon: ST
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Legend: * = Intermediate level ** = Strong level *** = Very strong level
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