The actions of Atresmedia set record highs in 2015 at 11,304 euros if we adjust the data series to dividends and financial operations. That means we would have to raise 425% to test these maximums. The reasons for this type of correction, which are so continuous and lasting over time, are well known: more competition, less advertising; less advertising, less income and less income less profit, and worse, the dividend is in jeopardy.

So the price does not seem to find ground in this long and pronounced fall in which more than 80% of its value has been left in five years. In fact, this beginning of the year is not that it is very different, since it leaves 35.6% of its value.

However, things could change soon and see some kind of serious and lasting rebound, like any of those we have seen along this five-year downward journey.

Evolution of A3 Media shares
                    Eduardo Bolinches

That change It will totally depend on what happens in the vicinity of 1.93 euros. That is the area that caused a turning point in the evolution of prices, which is also bearish in the year 2012 and therefore it presents itself as the only burning nail to take refuge in to avoid testing what the Atresmedia record lows at 1,552 euros 11 years ago.

However, it should be remembered that a support does not imply that prices will cause a change in the direction of its march It is simply a price area in which we are going to have to be very vigilant to see if that can finally end up happening, but without forgetting that said area can perfectly be pierced just like a knife cuts butter.

We will have to be patient and wait to see what happens. We need to see that prices hit that area, slow down there and then turn higher before valuing a long position entry in Atresmedia.