Álvaro Nieto, technical analyst at Investment Strategies, highlights that Repsol has attacked support levels during the last sessions, above 15.44 5 euros per share, and, especially, after the good performance of Brent oil futures in the last sessions, which has had a positive impact on the value.
We continue to establish as a priority objective for the company’s shares that the price is on its way to attacking the maximum of the bearish engulfing candle of last Thursday, January 22, around 16,355 euros per title.
Therefore, we maintain a positive position on Repsol shares, because its price continues to complete a lateral channel included over the 14.75 and 16.75 euros per share.
So as long as the value does not end any session at the close below the range included between 15.32 and 15.80 euros per share, we will continue to maintain a positive view of Repsol.