Wednesday, September 28

IAG, the 2 euros and their hand luggage: the wall against the “British” bassists


IAG (Iberia) continues to be one of the stars of these early stages of the year, with the permission, of course, of the flourishing financial stocks that continue to stand out on the Ibex. The value that has risen no less than 28.3% in the last month, seems to have stopped its rally on the verge of 2 euros to cut almost 4% in the last two sessions. Despite this, it continues to advance 12.2% since the beginning of this 2022.

IAG listed the value

However, it has been unable, with special emphasis on Monday’s rise, to maintain itself except intraday above a dimension that already functions as the first resistance of consideration for the value. We are talking about two euros per share, a level that must be exceeded to demonstrate that the rebound with force living at the beginning of the year remains valid, after the debacle last November with the arrival of the omicron variant.

Another factor is undoubtedly the operation with Air Europa, with which it will continue negotiating until the end of the month and on which it looks at the Government, that, for Bankinter, it has a fundamental role in two ways: through the European Commission, which must endorse the operation, and the assumption of debt from Moncloa, both the rescue of 475 million from SEPI and the 140 million from the ICO. From the firm they recommend the purchase of the value with a PO of 2.5 euros per share, but a bet that only very dynamic investors raise.

But for now, If we look at the British market, we see that the IAG price is still plagued by bears, whose presence already reaches, as we see in the image 3.93% of its capital, with a change in positions since the beginning of the year, reinforcing the value

IAG bearish positions on the London Stock Exchange

For Sergio Ávila, IG analyst “We have seen a recovery phase in IAG after leaving a double bottom in the 1.484 area, that double bottom has already been completed, the projection has been fully met, reaching the 1.95 area. At the moment we have the long-term average that is still bearish, the price is above it, which is positive. But what should be seen here is if it is capable of holding above average swithout losing the previous support, which would be in the area of ​​1.87”.

What should also be watched from here? asks the IG analyst, if finally at a given moment it were able to break this succession of decreasing highs, which would be the area of ​​2.10. As long as it does not break that level, it would still be inside a bearish channel, therefore, some caution should be exercised. We continue with the omicron variant, the WHO points out that there may be more variants in the future and that penalizes the most cyclical sectors, which depend more on the mobility of people, as is the case with IAG”.

IAG “recovers positions strongly from the horizontal support we project from 1.505 / 1.47 euros per share, as well as the lower contracting band of a decreasing channeling process in the medium term. However, the recovery it does not alter, for the moment, the medium-term bearish channel, so we remain unchanged to highlight”, as he points out the technical analyst of Investment Strategies, José Antonio González.

IAG on daily chart with Average Amplitude Range in percent, MACD oscillator and trading volume

IAG stock technical analysis

We add more opinions, that of the independent analyst Antonio Espín who considers that “although the value has lurched, right now there is a favorable wind for this value. There has been a good reaction at the support of 1.50, the value picks up, and it has a possible lower figure prior to a rise, that is, I think it is possible that it will go to 2.20 again, in the next sessions.If bought, stop at 1.80”.

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