IAG remains positive in the medium term. Support sits below and COVID woes are fading.

Overview

International Consolidated Airlines Group S.A., often shortened to IAG, is an Anglo-Spanish multinational airline holding company with its registered office in Madrid, Spain, and its operational headquarters in London, England.AG owns some good brands which I’m sure you have heard of, these include British Airways, Aer Lingus, Iberia & Vueling.

Technicals

From a technical aspect, the stock looks supported. MACD is rolling over on the daily timeframe however trendline support holds well. Support sits at £1.60 followed by £1.54 and then £1.47. Looking at the upside, initial targets are £1.79, followed by £1.88 then £2.00.

Summary

Overall IAG should perform well so long as COVID continues to fade away slowly. traffic will return back to normal over the coming years and IAG will be able to recoup losses. As a result, their share price could bob about around its current levels for some time before it moves higher to the upside. It will take time for IAG to recover but because of its flag carrier status and group strength, the outlook for this airline remains positive right now.