Iberdrola cannot react to the upside and threatens to go to 8 euros for an HCH

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Much volatility the one we are seeing in the price of Iberdrola shares after the presentation of the results in which it obtains a profit of 1,530 million euros, which is 18% less than the same period last year. And it is that those extraordinary by the sale of the Siemens Gamesa shares have been very difficult to replace.

The value opened with a bearish gap in today’s session and then closed it immediately and even surpassed the highs of yesterday afternoon, not the intraday highs of the session. However, we continue to see a continuity of decreasing highs That avoids being able to get away from the danger zone around 10 euros.

Therefore, the minimums that we saw last Monday in the 10.095 euros are still key to avoid testing the recent lows at 9.95 euros, the loss of which would immediately take us to the annual lows of 9.772 euros.

Evolution of the shares of Iberdrola Eduardo Bolinches ProRealTime

Losing this last level would generate a quite serious deterioration in the price medium and long term, since as we can see in the previous weekly chart we would have completed a figure of almost a year typical of market ceilings.

We are talking about a shoulder head shoulder whose potential correction movement would take us to the area of ​​8 euros where the medium-term moving average is quietly waiting.

This scenario cannot be ruled out and the only way to avoid it is to get the price of Iberdrola shares to achieve break the pattern of decreasing highs which presents the value since last April seeing sustained prices above 10.50 euros, which is where the medium-term moving average is heading.

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