OHLA's future hinges on the 0.525 euro resistance level
OHLA trades at 0.45 euros, with resistance at 0.525 and a technical target of 1.02. Will the ascending triangle break out?
English · Original discussion in Spanish · Published
OHLA has it all to play for at the 0.525 euro resistance
OHLA is trading around 0.45 euros, and technical analysis charts an ascending triangle which, if it breaks to the upside, would project a target of 1.02 euros — potential of nearly 95% from the breakout point. But everything hinges on the price clearing the 0.525 euro resistance, a level that has already stalled the advance several times.
Some see it clearly: the support at 0.27 euros is far away, and the sideways structure has yet to confirm itself. The more sceptical reading points out that the stock has already rallied from 0.25 euros, and that waiting for a fourfold gain may be wishful thinking. Right now, the share price is worth what it trades at: around 0.45 euros.
The catalysts that could tip the balance are the release of first-half results and a possible sale of Galería Canalejas, a deal that would provide the company with liquidity. The combination of a bullish technical pattern and corporate news is the perfect cocktail for a sharp move, but on the stock market conditionals come cheap.
With the chart at that crossroads, prudence advises waiting for the breakout. If the price clears 0.525 euros on volume, the bullish scenario gains strength. Meanwhile, the stock will remain a speculation game, not an investment.
OHLA is trading around 0.45 euros, and technical analysis charts an ascending triangle which, if it breaks to the upside, would project a target of 1.02 euros — potential of nearly 95% from the breakout point. But everything hinges on the price clearing the 0.525 euro resistance, a level that has already stalled the advance several times.
Some see it clearly: the support at 0.27 euros is far away, and the sideways structure has yet to confirm itself. The more sceptical reading points out that the stock has already rallied from 0.25 euros, and that waiting for a fourfold gain may be wishful thinking. Right now, the share price is worth what it trades at: around 0.45 euros.
The catalysts that could tip the balance are the release of first-half results and a possible sale of Galería Canalejas, a deal that would provide the company with liquidity. The combination of a bullish technical pattern and corporate news is the perfect cocktail for a sharp move, but on the stock market conditionals come cheap.
With the chart at that crossroads, prudence advises waiting for the breakout. If the price clears 0.525 euros on volume, the bullish scenario gains strength. Meanwhile, the stock will remain a speculation game, not an investment.
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Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (9 replies).
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