Almirall’s rebound from June lows of almost 40% leaves fastest indicators overbought

Almirall edificio id

Renta 4| The price has violently broken the downward trend line from the highs of July 2021, while confirming important bullish divergences in its slow indicators. Moreover, the monthly indicators have started a bullish process, which is often accompanied by additional upward pressure in the medium/long term. The price presents a key reversal support level, between the lows of last June at €7.15 and the crossing of the main bullish guideline, at €6.90. The rebound from the June lows, of almost 40%, has left the faster indicators overbought, suggesting an upcoming profit taking on the rallies experienced, which in light of the chart below could represent an opportunity to buy in the medium/long term.


About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.