Will Amadeus IT Stock Make Another Push Higher?

by Darius Anucauskas
12:19, 2022/06/21

Looking at the technical picture of the Amadeus IT Group SA (BME: AMS) stock on our 4-hour chart we can see that, today, the share price managed to overcome a short-term tentative downside resistance line taken from the high of May 30^th. For now, AMS continues to trade above that line, meaning that more byers might see it as a good sign to step in. We will take a positive approach for now.

A further push north may bring the price to its next potential resistance area between the 55.36 and 55.60 levels, marked by the high of June 10^th and the low of June 9^th respectively. Initially, AMS could stall there for a bit, or even correct slightly lower. However, if the stock is able to stay somewhere above the aforementioned downside line, another move higher might be possible. If this time the price can overcome the previously mentioned resistance area, this may open the door for a move towards higher hurdles, where the next one could be at 58.00, marked by the high of June 6^th.

The RSI and the MACD are pointing higher. Additionally, the RSI is above 50, showing positive price momentum. However, the MACD is above the signal line, but remains below zero, while slowly grinding towards it. Both indicators are pointing upwards, however, to get more positive with higher areas, a break above 55.60 would be needed.

Alternatively, a price-drop back below the previously mentioned downside line and below the 53.48 zone, marked by the low of June 10^th, could temporarily scare off some buyers from the arena. AMS may then fall to the 52.26 obstacle, or to the 51.28 hurdle, marked by the inside swing high of June 16^th. If the buyers are still nowhere to be found, the stock might slide again and the next target could be at 49.92, marked by the low of June 16^th.

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