Looking at the technical picture of the Repsol SA stock on our daily chart, we can see that from the end of October, the share price has been drifting lower while trading below a short-term tentative downside resistance line. The experts said that overall, the stock continues to trade above a medium-term tentative upside support line, which may lead to some higher areas again if it stays intact, however, given that the share price is stuck between the two lines. Repsol S.A. operates as an integrated energy company worldwide, and its financial statistic indicators look so relevant with PE Ratio 13.3 and with earnings forecast of 4.97% per year. But according to the experts, the company is still overvalued at the current price with a fair share price of 6.41 EUR per share.
Suppose the stock breaks the previously discussed upside line and falls below the 10.01 hurdle, marked by the inside swing that could clear the path to further declines. REP might send the stock to the 9.74 zones, which could provide a temporary hold-up. That said, if there are still no new buyers' insight, the slide may continue, and the next target could be at 9.46.
A break of the aforementioned downside line and then a push above the 10.82 hurdles and the high of yesterday could open the door for higher areas, as more buyers might join in. REP may then drift to the 11.21 obstacle or even the 11.39. If the buyers don’t stop there, the next possible target could be at 11.78, marked by the highest point of October.
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Suppose the stock breaks the previously discussed upside line and falls below the 10.01 hurdle, marked by the inside swing that could clear the path to further declines. REP might send the stock to the 9.74 zones, which could provide a temporary hold-up. That said, if there are still no new buyers' insight, the slide may continue, and the next target could be at 9.46.
A break of the aforementioned downside line and then a push above the 10.82 hurdles and the high of yesterday could open the door for higher areas, as more buyers might join in. REP may then drift to the 11.21 obstacle or even the 11.39. If the buyers don’t stop there, the next possible target could be at 11.78, marked by the highest point of October.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.