Spain IBEX 35 Stock Index Breaks Out, Price Target 10,000

The Spain IBEX 35 Index INDEXBME: IB is attempting to breakout.

This stock market index has shown a very nice improvement recently.

Currently, we are seeing favorable momentum and the 40-week moving average is upward sloping.

This should bode well for upside in the days ahead.

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Our target from here is 10000, about a +6% rise.

As always, risk should be managed. Only a sharp reversal back under the downtrend line would negate this opportunity (from my perspective).

Spain IBEX – 35 Index Chart

spain ibex 35 index bullish breakout rally higher price targets 10000 image

The author may hold positions in mentioned securities at the time of publication.  Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.