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Cellnex he has presented losses of 84 million euros in the third quarter of the year as a result of an increase of 100% in the amount of depreciation and amortization. An impact that has affected your account results even having increased revenues by 52%.
The bracket in the exponential moving average of 200 sessions help to relaunch the bullish momentum on the valueafter the sideways range for the summer. The price has managed to overcome the resistance of as high as 53.5 euros per share and has subsequently been supported in the new stand to get a boost and recover the path upward.
The titles of Cellnex are currently listed in a side channel. Now, the price seems to go up to the top, scoring the first goal in 55 euros per share. In addition, the quote just to cut the moving average of 100 sessions (grey line), which indicates a buy signal.
Stock market performance of Cellnex.
Which means that the action you can re-attack you again your annual maximums and historical. If the price is able to break the top of the structure, the action is to be directed to break the next resistance in sight, the 57 euros per share.
There could possibly be a consolidation of benefit on the part of investors before returning to speak to their historical prices, the 60 euros per share.
Given the volatility in the marketit would be interesting to place a stop loss just below the lower part of the channel, in the 50 euros per share.
***Álvaro Giménez-Cuenca is analyst XTB.
