The price of Telefónica It runs within a long-term bullish channel in fuchsia. At the beginning of NOV 2021, the value started a recovery from the lower side of the bullish channel, breaking the 40 and 200-period simple moving averages, which have crossed upwards, indicating an upward trend. The medium and long-term moving averages could now become a support zone in the future. Currently, the price is attacking the resistance zone 4.1015 / 4.1620 euros per share. Breaking out of this resistance area would be a sign of strength, clearing the way to the upside of the uptrend channel. Support levels are located first, on the lower side of the long-term bullish channel, then the DEC 2021 lows at €3.6525 per share and the key support zone between 3.4615 / 3.3415 euros per share. Trading volume has been increasing as price bounced off the bottom side of the up channel, furthermore volume is generating above average growth by attacking the last resistance area between 4.1620 and 4, 1,015 euros per share, which is a positive sign.
Telefónica on daily chart with average amplitude range (upper central window), MACD (lower central window) and trading volume (lower window)