Medium term view - GAS NATURAL : The moving average is supporting prices.
The previous high has been passed, the bullish trend is confirmed. The next target is at €24.70. The invalidation level is below €17.80.Arguments :
- The major support has been reached, it causes the bounce.
- The 62% retracement is causing the bounce.
- The moving average is supporting prices.
- The reaction at the resistance is weak, we anticipate its break soon.
Gas Natural SDG is a gas company based in Spain. Co. and its subsidiaries are primarily engaged in the supply, transportation, distribution and commercialization of piped natural gas, as well as the activities involving exploration and developing, supply, regasification, liquefaction and storage of natural gas, and the generation and commercialization of electricity. Co. operates mainly in Spain and also outside of Spain, especially in Latin America, Puerto Rico, Italy, France and Africa (through Maghreb-Europe gas pipeline and integrated LNG projects in Algeria).
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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