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
- New scam on Instagram: they block accounts and ask for money to return them Aug 16, 2021
- Exports totaled US$4,128.7 million between January-April 2022 May 20, 2022
- China to tighten environmental approval for polluting projects May 31, 2021
- Euro2020, England beat Denmark and challenge Italy in the final Jul 7, 2021
- EDF: The Financial Markets Authority gives the green light to the renationalization project Nov 22, 2022
- Draft UN agreement on biodiversity targets conservation, pollution and finance – ISTOÉ DINHEIRO Jul 12, 2021
- Wall Street says goodbye to May on the rise with the highest inflation in the last 13 years May 30, 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
