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Home » IAG: Do you also see the positive prospects for the summer on your chart?

IAG: Do you also see the positive prospects for the summer on your chart?

So far this year the value is up 21% within the IBEX 35 and this Monday IAG (Iberia) is one of the best performing stocks within the index. Pre-pandemic levels are a long way off, but the company has managed to slowly but surely bounce back and solidify positions in its recovery, which has been riddled with ups and downs after hitting lows in September 2020 as it unfolded the key psychology supported 1 euro per share.

Today it is traded around 1.70 euros. According to José Antonio González, a technical analyst, the technical structure is positive, it follows a sequence of decreasing minima and maxima, the medium and long term moving averages as well have a positive aspect and moreover managed to eliminate exaggerations with the latest fixes.

“The situation is not bad in the medium term,” says the analyst, “but In the short term, it would be a mistake to think the worst is over“. It cannot be said that it will fall, but it must be taken into account that the current rebound does not exceed 61.8 of the correction process, which would be a key point for the danger to pass.

Now the resistances to be observed are the 1,737 eurosthe last maximum and the level of1,764 euros. Until he leaves them behind, he would have no further journeys up to the annual maximum, over 1.90 euros. For the lower part you have to respect the 1.4635 euros.

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