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Telefónica faces very important key resistance in the short term

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Plainly the outcomes that Telefónica revealed at the moment for the first half of this yr will not be sufficient for the share value to interrupt the important resistance of three.82 euros.

And whereas it’s true that now we have had a euphoric openness Above that stage, it didn’t final greater than 5 minutes earlier than being misplaced once more in what appears to be a combat that may proceed all through at the moment’s session.

So we already know the place we ought to be trying at the moment. This stage of the 3,82 euros is key for at the moment’s session since it’ll open the doorways to the continuity of the will increase that started on July 20.

Evolution of Telefónica Eduardo Bolinches ProRealTime shares

Nonetheless, the closeness of the medium-term transferring common at 3.87 euros signifies that now we have to quarantine costs above 3.82 euros. And it’s that the 3.87 euros corresponds to 50% of the lower suffered from the highs of final June 14 at 4.15 euros.

For its half, the Fibonacci stage of 38.2% of all this corrective part is at 3.8 euros so it’s also configured as the value stage to not lose in at the moment’s session to have. Greater than something as a result of it additionally corresponds to half of the upward momentum we noticed from final April’s lows to June’s highs.

As we speak we’ll know if traders give the needed confidence to Telefónica shares in the type of breaking the resistance of three.87 euros. A needed situation to see a continuity in direction of the resistance zone in the neighborhood of Four euros and that corresponds to the maximums of this month of July.

For its half, if we check out the weekly chart From the evolution of the value of Telefónica shares, we’ll notice that since October of final yr the inventory has been creating a transparent sample of accelerating highs and lows that has not been damaged, and due to this fact, to the extent that we don’t see quotes beneath 3,60 euros traders in search of the dividend of Telefónica and long-term traders can proceed calm.

Evolution of Telefónica shares

Evolution of Telefónica Eduardo Bolinches ProRealTime shares

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Donna Miller

Donna is one of the oldest contributors of Gruntstuff and she has a unique perspective with regards to Science which makes her write news from the Science field. She aims to empower the readers with the delivery of apt factual analysis of various news pieces from Science. Donna has 3.5 years of experience in news-based content creation, and she is now an expert at it. She loves journalism, and that is the reason, she moved from a web content writer to a News writer, and she is loving it. She is a fun-loving woman who has very good connections with every team member. She makes the working environment cheerful which improves the team’s work productivity.

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