IAG shares were wallowing near 52 week lows again yesterday. From a chartist’s point of view this makes things interesting. Another test of the well-defined support line is in play.
While there looks a lot of room for something to ugly to happen if this support is broken, the fact that the slow stochastic oscillator is over sold might sound a note of caution for potential sellers. In the absence of any earth shattering company news, a move below the support could turn out to be a relatively minor break and a potential opportunity for buyers happy with this stock’s dividend paying capacity.