IAG surge aims at 250.00

Note: This section contains information in English only.
Source: Dukascopy Bank SA


IAG or International Airlines Group is the result of the merger between British Airways and Iberia Airlines. Namely, the top UK and top Spanish airlines merged into one entity, before buying up even more airlines.

In general, the firm has been recovering since late 2022, when in the aftermath of COVID the stock price reached below the 100 Pound mark. The recovery appears to be taking place in a broad channel up pattern. This summer, the share price bounced off the lower trend line of the channel pattern and the 200-day simple moving average.

In the aftermath of these events, a junior pattern was formed that has guided the price up for three months. It can be observed on the chart that the pattern might guide the stock to the 250.00 mark by the end of the year.

Meanwhile, note that there is additional support from the ascending 50-day simple moving average near 200.00.
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