Iag

The IAG share price jumped by more than 10% on Tuesday as investors cheered the latest developments in Covid-19. The stock rose to a high of 160p, which was the highest level since November 17th. It has risen by more than 27% from its lowest level in December. IAG 2021 review International Consolidated Airlines Group had a relatively mixed 2021. Initially, the stock jumped to a high of 222p in March. Since then, the stock declined by about 45% and fell to a yearly low of 122p. The initial jump happened as investors priced in more airline demand as the number of vaccinations rose. It then declined as concerns emerged that many people were resisting vaccinations. Also, the number of breakthrough cases jumped, pushing the reopening to be more uneven. In November, the stock declined sharply after South Africa confirmed the new Omicron variant. The 33% decline that happened was because analysts expected that the new variant would derail the recovery. The IAG share price jumped sharply on Monday as investors reacted to the new information on Omicron. While the variant is highly transmissible, the reality is that it is a bit milder than other variants. Most people who get it don’t need any hospitalization. Therefore, investors believe that the new mild variant will likely lead to herd immunity, which will help the industry bounce back. Also, many governments have avoided announcing major lockdowns. IAG was not the only aviation stock that surged. In the United States, companies like United, Southwest, and American have also jumped this week. IAG share price forecast The daily chart shows that the IAG stock price formed a double-bottom pattern at about 125.95 in December. In price action analysis, this pattern is usually a bullish sign. On Tuesday, the stock managed to move above the upper chin of this pattern. It also rose above the 25-day and 50-day moving averages and the 50% Fibonacci retracement level. Therefore, the stock will likely keep rising as bulls target the next key resistance level to watch will be at 183p, which was the highest level on November 5th. On the flip side, a drop below 140p will invalidate the bullish view.