Clear for taxi and takeoff

I had a request to publish something on IAG.

I already hold here so my charting might be a bit biased however I have endeavoured to do so without.

For those that want some analysis:

Find the highest and lowest price points. We can see a high in Jan last year, and a low in Oct. Draw a Fib retracement based on these points.

Also draw S/R lines.

We can also see downtrend, consolidation, and uptrend (forecast) market cycles.

Let's focus more on the indicators:

We have MA crossovers happening all over the shop in the past months. Most recently however, 20MA crosses over 50, and 100 over 200. Suggesting bullish momentum.

We can also see the RSI at over 70. This suggests it is overbought based on recent 14 days. It also suggests bullish momentum i.e. a continuous price ascent.

We can see the S/R lines coincide with Fib levels. Based on above, it could be that we see some consolidation on 0.382 Fib levels, before another uptrend to 0.618 level.

I don't think 0.236 Fib prices will return. Perhaps 4hr chart will give us more insight.

Let me know if you have any comments. Please follow and like if you agree or disagree.

Thanks.

Komentarz:

Market conditions have changed the game here. Very unfortunate really. Seems like we will end up seeing the 0.236 Fib level after all.