According to market strategist Ramon Bermejo, the Iberdrola is showing positive short-term signs at technical levels. The stock has described a hammer pattern which was valid on 12th and yesterday formed another hammer pattern which was valid today, so it may continue to rise in today’s session and tomorrow’s session.
Following objective levels, taking into account that it has an upward channel on the one hand and a double minimum pattern on the other, apart from a gap up to 12,505 euros, the price may first recover a little over 5% and then more than 12% Towards the target of the double bottom pattern at 13.36 Euro.
A consensus of analysts collected by Reuters recommends Buy to Iberdrola at a target price of 12.04 euros, representing a twelve-month potential of 1.18%.
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