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Iberdrola has rolled out the Plan Recarga Inteligente in partnership with BYD, offering free chargers and additional benefits to new BYD vehicle owners in Spain. Shares edge higher on the day, trading at €22.77.
Iberdrola announced the launch of the Plan Recarga Inteligente in partnership with BYD, aimed at electric vehicle users. Customers who purchase a BYD vehicle are offered a free home charger when they choose Iberdrola for technical installation. The Plan Recarga Inteligente also provides installations, benefits on electricity bills, and additional discounts, according to ElEconomista.es.
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RSI at 74.1 is deep in overbought territory, limiting the room for further upside. Shares of Iberdrola are holding above their MA-20, MA-50, and MA-200, maintaining a bullish daily structure. The nearest resistance is the weekly high at €23.06, with price action over the past week showing a sustained move higher and a firm overall trend.
To gauge whether the recent event is reflected in price, traders should monitor the weekly high at €23.06. The current RSI reading above 74 points to a stretched rally that could curb additional gains. Even so, for the coming trading week, upside probability is more than 80% and downside probability is less than 20%, with Iberdrola shares expected to trade between €22.29 and €23.24. A close above €23.06 would confirm further buyer commitment, while a drop below €21.99 would suggest the move is being faded. On the weekly chart the longer-term picture stays firmly constructive.
Previously it was reported that Iberdrola expanded its renewable energy alliance with Norges Bank through the addition of the Tâmega wind farm, reinforcing the company's leadership in clean energy infrastructure. The latest partnership with BYD, launching value-added charging solutions for electric vehicle owners, adds a new dimension to Iberdrola’s growth strategy and introduces the €23.06 weekly high as a key level to monitor for continued upward momentum.