Technical analysis

Following in the wake of my previous technical analysis on the value where I forecast a slow rise to resistance. On that occasion, the value finally gave the two euros with a large margin, an unequivocal sign that he was going to make a deep correction.

After this and contemplating the good results of last year with the reduction of the debt and the large amount of the projects acquired , there was no other alternative but to re-test resistances. The presentation of results in February of this year has been very positive, with a substantial increase in benefits . In this case, the rebound was just as fast as the fall, creating the formation of "Inverted Shoulder Head Shoulder" , which seems to want to conclude. For this you must resolve reliably the resistance of € 2.5 and there you can assault the € 2.7 or perhaps form again a side channel in which you will try in several attempts. The support of that channel could be € 2.35 as it did previously.



If we go to a medium-term chart we can see how every time the annual moving average (purple line) touches the value rebounds with great force and in it the first resistance that will be now clearly exceeded support around € 2.2 and from there to the important resistance of € 2.7 there is still a 30% rise which is quite likely to take a break before reaching it with support surely € 2.2 - € 2.35. From there it would be all ready for after two years running trying to surpass € 2.7 and touch maximums leaving the way clear for the next resistance at € 3.2 .