The value has lost its great support that had been operating since last August and now it must fight to recover it.

The value has lost its great support that had been operating since last August and now it must fight to recover it.

The value has lost its great support that had been operating since last August and now it must fight to recover it.

Facade of the Indra headquarters located in Madrid

tremendous crash and the scare that investors in Indra have had when they saw that the price of its shares, which they had managed to open with an upward gap in line with the market in general, began to fall, immediately closing the upward gap of the opening, but not content with this, the sellers knocked down the share price to 8,325 euros in just over half an hour.

We are talking about a drop of 11.44% from its opening price, which was also the maximum of the session, although we must say that in the absence of the session ending because all the scenarios are open and you never know if we can see today a close above 9.40 euros.

Throughout this violent collapse, the price of Indra’s shares has been carried ahead the long term moving average which is at 8.98 euros, but the most important thing is that it has also lost the area around 8.80 euros where since last August the price always bounced.

However, with today’s fall, a price far removed from them has been marked and, as we can see in the following set of charts with different time frames, we are seeing that there are serious problems in reconquering what until now was a clear area of support for the price of Indra’s shares.

And this is a clear symptom of problems for the short termmore than anything because it tremendously distances a supposed scenario of continuity of the bullish reaction and with it the possibility of ending up seeing this movement as a clear pull-back process to support that has been working so well until now.

Evolution of Indra's shares in different periods

Evolution of Indra’s shares in different periods
Eduardo BolinchesProRealTime

In the main chart we can see the evolution of the share price in daily candles and the importance of the support we have lost and that we should now proceed to recover before the close of today’s session to move away from the corrective continuity scenario.

However, as we can see in the 5-minute candlestick chart that shows yesterday afternoon and today’s session, the value has lost the area of ​​8.80 euros and now, with the bullish reaction he’s having serious trouble getting her back.

If it closes without being able to do so, it will be clear that this price level is going to be a major resistance to recover if we want to see Indra’s shares bullish.

Adminartua

Leave a Reply

Your email address will not be published.