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Bullish engulfing profile backed by divergences

IAG

The price of IAG It is registering a bullish engulfing candle that should be confirmed with a session close above 2 euros per share, supported by (1) wide positive divergences and (2) activation of buy signals in the Stochastic oscillator. Based on the above, the recovery that has occurred over the last few sessions allows us to consider an imminent attack on the last decreasing maximum that we project from 2,063 euros per share, the exceeding of which would enable the IAG price to attack 2,175 and 2,291 euros per share, respectively. For its part, the downside risk lies in a reduction in the trading activity that reduces the reliability of the upward rebound movement that starts from the minimum of 1,815 euros per share, a level whose violation would enable an extension of the medium-term corrective movement and a cancellation of the bullish targets mentioned above

IAG on daily chart with Trading Activity (window with a blue background), Stochastic oscillator (window with a green background) and Medium Amplitude Range (window with a yellow background)

IAG on daily chart with Trading Zone analysis templateIAG on daily chart with Trading Zone analysis template

IAG on daily chart with Trading Zone analysis template

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