BBVA is in full attack on the area of significant resistance, located around €7,265 / €7,164 per share, which is the scenario to prioritize breaking due to (1) an undoubtedly positive long-term structure (2) and the formation of a potential continuation pattern in the form of an ascending triangle. Said bullish scenario at BBVA will not abate as long as the price series manages to stay above (1) the primary or long-term growth guideline and (2) the last secondary or intermediate-term growth support forecast from €6.06 per share.
BBVA on weekly (left) and daily (right) charts with MACD oscillator and trading volume
railroad manages to resolve the last sideways range to the upside, perfectly identified at €29.57 / €27.92 per share. Breaking down significant resistance, as we were then talking about annual and historic highs, is in favor of its undeniably growing fund structure. In this sense, the forecast of Ferrovial’s minimum theoretical upside targets allows us to see progress towards the level of around €31.3 per share, a scenario or target that will not be canceled as long as the price curve does not break the last medium-term growth support, which stands at €28.15/€27.92 per share.
Ferrovial on weekly (left) and daily (right) charts with MACD oscillator and trading volume
Indra is in full attack on the viability of the area with significant resistance, which is around €12.53 per share and overcoming which thanks to its no doubt growing fund structure is the scenario that should be a priority. If the breach is confirmed by the weekly close, Indra would allow for an update on the next bullish targets towards the next resistance area located around €13.48 / €13.19 per share. With that in mind, we will not gauge any significant deterioration on the buy side until we see drilling at the secondary or medium-term support area forecast at €11.03 / €10.84 per share.
Indra on weekly (left) and daily (right) charts with MACD oscillator and trading volume