The value started the year above 50 euros and is trading below 40.

The value started the year above 50 euros and is trading below 40.

The value started the year above 50 euros and is trading below 40.

Cellnex signal repeater antenna in Torrespaña (Madrid).

The truth is that the year 2022, or at least the beginning of this year, is not the best for Cellnex’s share price, which has accumulated a drop of more than 25% if we take into account the recent lows that we saw in the past Monday at 38.10 euros.

But really these drops do not come from the change of year since the price of the shares has been leaving a clear pattern of decreasing highs with its corresponding confirmation of lows that have also fallen since last August when we came to see the price of the shares of Cellnex at 61.92 euros.

And while it is true that there was a kind of truce throughout the months of October, November and early December of last year, the price of Cellnex shares continued to fall subsequently and even more vertically as we can see in the following graph.

Evolution of Cellnex shares

Evolution of Cellnex shares
Eduardo BolinchesProRealTime

Everything seems to indicate that Cellnex shares do not enjoy the confidence of investors who are waiting to see what happens to the low zone of almost a year ago when the momentum began bullish from 36.25 euros.

In fact, if this level is lost as a result of the continuity of the pattern of falling highs and lows, those supposed purchases by new investors will really wait to see how far the value drops and they will not want to enter until they see that the pattern of highs and lower lows is definitely broken to the upside.

Therefore and in conclusion, whether the break of the decreasing maximums that the value presents occurs before or after 36.35 euros, it is clear that it will be the trigger for the new entry of investors and therefore we must wait. of that event.

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