IAG sets course for the weekly bearish gap of 2.62 euros

Since the September lows, IAG shares have accumulated a revaluation close to 100% and everything indicates that it has headed towards the weekly bearish gap in March.

Technical analysis

Short term

Medium term

Long term

Return figure as such we do not have yet in IAG. But we do have a first rising high after the price rises above the September highs, which is no small thing. You have to start somewhere. But it is true that this title is still far behind compared to the bulk of the market. In fact, for example, Amadeus It has long since closed the weekly bearish gap in March and Meliá Hotels He will confirm it this Friday. While IAG it would have to rise by about 40% more to attack homologous resistance. What is clear as can be seen in the long-term weekly chart is that the airline’s securities present very strong resistance in the weekly bearish gap, which in turn coincides with a 38.2% adjustment / decline of all the previous fall: the area of ​​2.60-2.65 euros.

IAG weekly chart

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