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Chartist Zak Mir says buy IAG ‘on dips’

Wednesday, November 2, 2016 4:21
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(Before It's News)

Investors should look to pick up shares in British Airways parent International Consolidated Airlines Group (LON:IAG), so long as the price comes back by 10-20p.

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

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