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Ence’s great lap figure points to much higher heights

Ence has been going up very strongly for three consecutive weeks and we have the results just around the corner. Let’s be cautious, let’s not find ourselves with the typical buy with the rumor, sell with the news.

Technical analysis
DOUBLE FLOOR
DOUBLE FLOOR

Short term

Medium term

Long term

We have spoken of the great double bottom of Ence on several occasions in recent months. In fact, this was confirmed in mid-January after leaving behind the important resistance of 3.25 euros. And after a small support in the new support (before resistance) in the form of ‘throw back’ the price accumulates a rise close to 30%. And this with a flat Ibex, which is not bad at all. In short, Ence continues to be a clear hold in the portfolio but in the short term we must be cautious because it can announce its accounts for Q4 and therefore 2020 at any time. Y after a 30% ‘rally’ in a short time everything is possible. In any case, punctual corrections aside, the truth is that if we believe the figure back on double bottom, it points to much higher heights, such as the area of the approximately 5.50 euros (the height of the lap formation).

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Ence monthly chart

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