Inditex boosted above EUR 25,40 - Medium term
Inditex is facing a great bullish momentum:
Fundamental:
After the downgrade of Morgan Stanley -17%, they have reported solid quarterly results reaching USD 12 Bn of revenue for the first time, remaining its clothing leadership.
Technical:
-Spanish equities negative momentum was sending Inditex downwards, however IBEX 35 is back again above 9.200 level pointing out a recovery of the Spanish Index.
-There is a gap at EUR 27-28 that needs to be covered.
-ITX did not break the FIBO 0,61 level.
Enjoy your trading!
Fundamental:
After the downgrade of Morgan Stanley -17%, they have reported solid quarterly results reaching USD 12 Bn of revenue for the first time, remaining its clothing leadership.
Technical:
-Spanish equities negative momentum was sending Inditex downwards, however IBEX 35 is back again above 9.200 level pointing out a recovery of the Spanish Index.
-There is a gap at EUR 27-28 that needs to be covered.
-ITX did not break the FIBO 0,61 level.
Enjoy your trading!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.