Faes Farma: Drawing falling highs is not a way to go higher
Be very careful with the technical aspect of Faes Farma, which has been recording falling highs for months, leading it to lose the 200-session average in the final months of last year.
The start of 2023 has not been good and proof of this is that we have seen how in the last few sessions it has punctured the support at 3.41 euros. It seems like its technical aspect is further complicated and we do not exclude an extension of the declines towards the level of 3.20 euros..
As of today, this is not a stock we should be looking at as long as it continues to trade below the EUR 3.70 resistance, distant prices and levels where the 200 session average converges.