Medium term view - RED ELECTRICA DE : The descending resistance has been breached.
The trend is still bullish. No indicator nor pattern are questioning it. The invalidation is below €15.795. The target is at €20.458Arguments :
- The major support has been reached.
- The descending resistance has been breached.
- The rising moving average confirms our opinion.
Red Electrica is engaged in the transmission of electrical energy, the operation of the system and the management of the transmission network in the Spanish electricity system. In addition, through its subsidiaries, Co. is engaged in the acquisition, holding and management of foreign securities, co-ordination of international exchanges, provision of telecommunications services for third parties, provision of consultancy, engineering and construction services outside the Spanish electricity system, securing of funds, carrying out of financial transactions and provision of financial services.
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