Álvarez Pallete, Telefónica
The price of Telephone it rebounds strongly in the short term, after registering a minimum of 3.5945 euros per share, level or support that works as an approximation to its simple moving average of 200 periods or long term and that it should not drill to avoid a cancellation of the aforementioned recovery. In this sense, Telefónica’s price manages to exceed (1) its simple moving average of 40 periods or the medium term and (2) the previous relative maximum projected from 3.9850 euros per share. In this way, the price approaches the significant resistance of 4.1485 euros per share, current annual highs, in a context of rebound in trading activity and with the MACD oscillator exceeding its neutral band or zero band, providing signals medium-term buying, readings far from overbought areas. Exceeding 4.1485 euros per share would allow us to think about attacking 4.3305 euros.
Telefónica on a daily chart with average amplitude range, MACD and trading volume
Telefónica on daily chart with medium and long-term analysis template