In today’s session it marked new intraday lows and with them the important support of 52.15 euros was lost.

In today’s session it marked new intraday lows and with them the important support of 52.15 euros was lost.

In today’s session it marked new intraday lows and with them the important support of 52.15 euros was lost.

PharmaMar headquarters in Madrid.  Ricardo Rubio / Europe Press

The situation from the technical point of view of the PharmaMar share price chart has suffered a new blow by marking, with the opening of today’s session with a low opening gap, a new yearly low and with it the breaking of the support area around 52.15 euros that had been operating since last December.

Nevertheless, the value is in the process of an upward reaction from the lows seen after the opening at 50.38 euros so it is vital to see what he manages to recover before the close of today’s session and, above all, if he is able to close the gap in the next sessions to think that today is simply being a scare in value dragged down by the wave of sales caused by the entry of Russian troops into the western part of Ukraine after the recognition as independent republics of the Donetsk and Lugansk areas.

The value it will have to be placed above 52.15 euros for the close of today’s session to prevent its technical aspect from getting worse with a new low that, if confirmed with the following session, leaves a scenario of extreme weakness with clear consequences beyond the short term, as we can see in the following long-term chart built with candles monthly.

Technical aspect of PharmaMar in the long term

Technical aspect of PharmaMar in the long term
Eduardo BolinchesProRealTime

We can see two big turning points by way of resistance in the years 2015, specifically in the months of April and October, and then later in the month of May 2017.

This price zone, which then acted as resistance, is found at 51.60 euros, which is precisely the price level that we lost in today’s session.

It is important to highlight that since these are monthly graphs, it is still too early to draw conclusions. However, there are very few sessions left until the close of the current candle and the worst that could happen is that we end up seeing a monthly close below those 51.60 euros.

Therefore, beyond what happens with today’s close and whether or not it is confirmed in tomorrow’s session, the technical aspect of the value is really going to become clearer with the close we have this February.

A real “match ball in order to know if we are going to go towards the next support at 30 euros or on the contrary, the support at 51.60 euros becomes strong next to the medium-term average and we see a new upward reaction worth taking advantage of looking for a resistance test of 70.80 euros.

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