IAG shares have been recovering from the sharp post-Brexit-vote lows, and according to technical analyst Zak Mir this trend can continue – but he says investors should wait temporarily for a better price before buying in.
Mir, in a Tip TV segment for Proactive Investors, notes that momentum indicators are near their highest levels this year, so there should be an opportunity to acquire shares at a lower price.
Looking upwards, Mir adds that the IAG price rally back to pre-vote levels eventually, so long as the airline share ‘breaks out’ above 468p.
He said: “if we can break back above that then we will hopefully undo the losses that we’ve seen since the referendum.”
Story by ProactiveInvestors