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Home » Endesa will present figures this Tuesday, how do you expect them on the stock market?

Endesa will present figures this Tuesday, how do you expect them on the stock market?

The electric Endesa accumulates gains of just over 15% within the Ibex 35 and reports to the market this Tuesday. From a technical point of view, the price action continues to develop a structure of rising highs – lows, which is positive according to analyst José Antonio González. “This means that buying sentiment remains strong, but the weekly MACD is currently finding readings compatible with readings from very large extremes,” the analyst says.

Any time you see overbought ads like Endesa is doing right now, the risk of a correction is high and needs to be considered.

This alert is activated for Endesa when the exceedances on charts or on larger timescales, such as B. the weekly, have accumulated. In order to see the risk, or how that risk is beginning to materialize on the daily timescale, we need to watch for the formation or possible formation of a double spike pattern; for its activation it would have to drill out EUR 19.58 per share, which could lead to corrections at least in the area of ​​EUR 18.69.

And through proximity and relevance We shouldn’t make a return to 38.2% obvious from all that has risen before from the October 2022 lows which could take us down into the area of ​​the previous support of $18.29 and $18 per share, “beware as the corrections are now looking bearish even at these divergence levels from what we are seeing on the daily chart could be fully consistent with a corrective force allowing excesses to be eliminated”.

In any case, these corrections, if they occur, would not be serious a priori, we could even use them as a buying opportunity in a medium-term fund context where Endesa remains quite strong.

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