Just this Monday we analyzed the value of Talgo and warned of the possibility that the price series was trying to shape a ‘head and shoulders‘invested with significant upside implications for prices.
Technical analysis
SHOULDER HEAD INVERTED SHOULDER
Short term
Medium term
Read Also
- Athletics Elmo Lakka finished fifth in Stockholm – less than half a second behind his record Jul 4, 2021
- The marketer explained the danger of “hunting for discounts” in stores Sep 16, 2021
- Tunisia: Stuck in an economic crisis, the country will receive a loan of 200 million euros from France Nov 19, 2022
- Inflation: Heating less, postponing the holidays… Faced with soaring prices, mayors forced “to make choices” Nov 23, 2022
- Hewlett-Packard: Company to lay off between 4,000 and 6,000 employees by 2025 Nov 23, 2022
- “By 2026, investments of 1,500 billion dollars in Research & Development” Jul 12, 2021
- Bank of Italy certifies federalist “mugging”: investments collapse in the south Aug 15, 2021
Long term
The confirmation of the figure back is there. The value closed above the resistance of 4.75 euros (maximum of January and clavicular of the formation), now important support. Which means that it is possible that the price will try to correct up to there in a typical ‘throw back’ movement. If it does, in theory, we will be faced with a new purchase opportunity. In the shorter term we have another important resistance in the weekly bearish gap of five euros (mid-March 2020). If this gap closes above this Friday, it will be canceled, which is without a doubt another new sign of strength.
In any case, if we believe the figure back, which is from a book, we can expect rises towards the area of the 7.50-7.80 euros in medium-term terms, facing the coming months and with their logical corrections against trend, of course. In the markets there are no infallible tools always keep it clear … but the figure and the upward implications of it are there.
Talgo weekly chart
