ABENGOA TECHNICAL ANALYSIS.
Technical indicators: MACD and Stochastic cut down. Stockings bulls 30 to 200 sessions.
Structures and Fibs: The Tor reaches two bullish targets proposed second bullish expansion on € 2.15 and target expansion in the € 2.58 zonal.
In this first chart short term we can see two objectives are reached upward proposed. Prior to pursuing the goal of upward expansion we had the annulment of an earlier figure activated bearish double top target € 1.53 . Objective bearish at the moment we opened/canceled after boot area exceeded upward.
In this second graphic medium term look at the technical background of the title. Clear area of resistance at the level € 2.70 , very close to 38.2% for € 2.63 . We have formed a great first bullish momentum (1.58 to 2.70 €) and would be waiting for the confirmation of the second pulse . Rates above the 200 day moving average.
Bias Value: In the short term bullish and medium term side.
Support and Resistance: Support at € 2.14 and resistance at € 2.70.
Our recommendation: Close in target area.