Medium term view - ACS : The major resistance has been breached.
The previous high has been passed, the bullish trend is confirmed. The next target is at €40.00. The invalidation level is below €27.30.Arguments :
- The major support has been shortly breached, but it is now reinstated. Prices can bounce.
- The major resistance has been breached.
- The descending resistance has been reached, it causes the drop.
- Prices made a new all-time-high, this confirms the strength of the trend.
- The Stochastics are rising.
ACS Actividades de Construccion y Servicios is a holding company. Through its subsidiaries, Co.'s activities are divided into the following areas: Construction, engaged in the construction of civil works, and residential and non-residential building construction; industrial services, engaged in the development of applied engineering services, installations and the maintenance of industrial infrastructures in the energy, communications and control systems sectors; services, groups together environmental services, the outsourcing of building maintenance services, logistics and transport services; and concessions, mainly engaged in transport infrastructure concessions.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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