Medium term view - TELEFONICA : The moving average is capping prices.
The trend has been momentarily interrupted by a correction. Prices just hit the resistance, it is probably resuming. The next target is at €5.952. The invalidation level is above €8.542.Arguments :
- Prices have pulled back to the major resistance level (previously a support). The fall is now resuming.
- The moving average is capping prices.
Telefonica is engaged in the provision of public or private telecommunications services, including ancillary or complementary telecommunications services or related services. Co.'s fixed business includes: traditional fixed telecommunication services, Internet and broadband multimedia services, data and business-aplications services, and wholesale services for telecommunication operators. Co. also provides a range of mobile and related services and products to consumer and business customers, including mobile voice services, value added services, mobile data and Internet services, wholesale services, corporate services, roaming, fixed wireless, and, trunking and paging.
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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