Traders Beware!

Fraudulent websites posing to have a connection with JFD

Please be aware of fraudulent websites
posing as JFD's affiliates and/or counterparties

More information
by Darius Anucauskas

Iberdrola Stock Breaks The Short-Term Downside Line

Looking at the technical picture of the Iberdrola SA (BME: IBE) stock on our 4-hour chart, we can that the price got a boost today and jumped over its short-term downside resistance line drawn from the high of July 21st. The share price is now balancing above all of its EMAs, which some buyers could see as a positive, but in order to get a bit more excited about higher areas, an additional push above the 10.735 barrier would be needed.

If the stock goes ahead and breaks above the 10.735 barrier, marked by the high of September 15th, that may attract more new investors into the game. IBE might then rise to the 10.895 obstacle, or the psychological 11.000 zone, marked near the high of August 25th. The price could temporarily stall there or correct a bit lower. That said, if the stock is able to continue trading somewhere above the 10.895 area, new buyers may step in and help lift the share price again. If this time IBE can overcome the 11.000 zone, that might clear the way towards the 11.160 level, which is the highest point of August.

The RSI and the MACD are both pointing higher. In addition to that, the RSI is above 50 and the MACD has just popped above zero, while continuing to balance above its trigger line. The indicators show increasing upside price momentum, which supports our upside scenario, for now.

Alternatively, if the stock suddenly drops back below the aforementioned downside line and also below the 10.415 hurdle, marked by yesterday’s low, that may spook potential new investors from entering any time soon. IBE could then fall to the lowest point of September, at 10.200, a break of which might set the stage for a move to the 9.902 level, marked by the low of June 25th.



The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. The Group of Companies of JFD, its affiliates, agents, directors, officers or employees are not liable for any damages that may be caused by individual comments or statements by JFD analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. Accordingly, you should seek, if you consider appropriate, relevant independent professional advice on the investment considered. The analyses and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyses and must therefore be viewed by the reader as marketing information. JFD prohibits the duplication or publication without explicit approval.

There are risks involved with trading of cash equities. Past performance is not indicative of future results. You should consider whether you can tolerate such losses before trading. Please read the full Risk Disclosure.

Copyright 2020 JFD Group Ltd.