A good technical future for the six major Spanish construction companies
Very good technical development that we were able to observe in Railway since it succeeded in maintaining itself, at the end of last year, near the average of 200 sessions.
In just over a month, the company gained 13%. These exceptional gains have taken it above 2022 highs and over the past few sessions we are seeing a consolidation in levels. For the next few days, it is very likely that we can see an extension of gains towards 28.36 euros, the historical highs. drawn in 2020. It goes without saying that if it manages to exceed these prices, it will begin a free ascent, without any resistance in its path.
OH THERE rose sharply throughout January. The company’s stock price rose nearly 30%. These remarkable gains led him to attacking the average of 200 sessions, an average that he has not managed to cross for the moment. In the short term, it could look for support around 0.50 euros, a price where we do not exclude the return of purchases. To be interested in the company, it is necessary to wait for a close above 0.5760 euros. This would mean the resumption of the average at 200 sessions and would lead us to think of an attack on the 0.60 euros. If he manages to overcome them, he will face the key medium and long term level at 0.6415 euros. Only with the break above these prices would we see a change in trend in the Spanish business of the continuous market.
FCC has been consolidating for several weeks at levels just below the 200 session average. Watch for a close above 9.14 euros in the next few days, as this would be the signal to allow it to move above this average. This would be the first step towards a change in trend, even if to confirm it you have to wait until the resistance at 9.50 euros is crossed. We won’t see any signs of weakness as long as it holds above EUR 8.75, the low point of the current sideways move.
Acciona is a very interesting action for the coming weeks. For the past few months, it has been evolving in a side band just near the average of 200 sessions.. However, the rising lows have us watching closely for an upcoming attack from the resistance at 192 Euros. Crossing this price level would be the signal I would be waiting for to enter the company. The upward target could be around 211 euros, the historic high reached last year.
ACS has maintained a very good technical aspect since the end of October and the beginning of November, where it has managed to stay close to the average at 200 sessions. Over the past four months, the company has grown 30%, and today we are seeing signs of strength that invite us to believe in its continued ascent. The construction firm might be eyeing a return to the EUR27 level and it seems very likely that we could see an attack on the key resistance at EUR28.15. If it manages to overcome these prices, we could see an extension of gains towards the €30.50 level, last year’s highs and the company’s all-time highs. Exceeding these prices would put it on a free ascent with no resistance in its path.
A few days ago we could see how Sacyr managed to overcome the resistance at 2.702 euros. It’s a sign of current buying strength that makes us think of… a continuation of increases to the level of 3 euros.. The good levels of accumulation that we can observe in its price series is another factor that gives consistency to its current uptrend. We should take advantage of any stops along the way to take an interest in the business. The first level of support is located at 2.49 euros. We will not see any signs of weakness as long as it holds above this price level.