Acciona’s stock price dropped 28% in the last two months from its peak at the end of June, indicating the shares are now in support but heavily oversold.
The Ibex index showed restraint during the US market holiday, with oil prices briefly recovering to $80 as geopolitical tensions between the US and Iran caused investor caution. Acciona and Acciona Energía led the index near record levels.
Técnicas Reunidas and Acciona Energía are competing for a position in the Ibex index during the index review scheduled for next Thursday. Técnicas Reunidas is outperforming with better stock market performance this year, more buy recommendations from analysts, and over 20% upside potential.