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Technical analysis office: PharmaMar, Santander, Iberdrola, Liberbank, Colonial, Veolia, Legrand and Ibex



Next, we respond to the values ​​for which we have been asked the most throughout the morning. José María Rodríguez, technical analyst at Bolsamanía, analyzes Colonial Real Estate, Iberdrola, PharmaMar, Liberbank, Banco Santander, Veolia, Legrand and the Ibex 35.

Technical analysis

Good morning, I would like to know your opinion about Colonial, since after behaving very well you have begun to slack, do you think it is time to reap benefits? And to comment my doubts also about Iberdrola, in this one I entered very late and I don't know whether to leave or keep. Thank you for your analysis, we are very helpful. Greetings. J.J.

Dear reader, good afternoon. Corrections are normal and mandatory within any uptrend, just as rebounds must occur within an impeccable downtrend. So, the falls of recent weeks in Colonial Real Estate They fit absolutely within the normal parameters and these have simply led him to seek support in the support zone that gives him the bullish guideline that unites each and every successive minimum increasing since the beginning of the year. So, as long as this line is not pierced, we will not have the slightest sign of weakness within the current bullish price structure.

Colonial weekly chart since October 2017

As to Iberdrola, and after overcoming significant levels of resistance, it can be said that everything points to the price being directed back to the annual and historical highs, at 9.58 euros. And above it would be placed again in absolute free ascent. Without a doubt, today the two titles for which he asks me are a clear keep. Thank you very much, greetings.

Iberdrola daily chart since early 2019

Good! I am grateful for the information you provide, it is very useful. I would like to know the opinion about Liberbank (at 0.283 euros), PharmaMar (at 1.934 euros) and Santander (at 3.635 euros). Thank you very much from Bilbao. A.K.

Dear investor, good afternoon. Liberbank It is in the reaction phase, or what is the same by adjusting the very previous falls. You know, action-reaction phase. And I do not rule out that in the short term it goes to the resistance zone that it presents at approximately 0.35-0.3560 euros, before support. In fact, a movement towards would fit absolutely within normal parameters, fitting into the typical ‘pull back’ movement. Anyway, although it bounces there and even reaches the bearish guideline, we have no figure of return or anything that invites us to take positions in a trend, beyond the typical rebounds against trend.

Liberbank weekly chart since early 2016

Without a doubt, PharmaMar It is one of the titles that has performed better this year. Since in November it surpassed a broad triangle (decreasing highs and rising lows), the price has risen with renewed energy. That said, it has closed the bearish gap of 2.60 euros and now it can be said that it has no significant resistance to the bearish gap of approximately 3.25 euros. The level of 3-3.25 euros is a very important resistance, since it is the bearish hollow of the session of November 9, 2017, also coinciding with an adjustment / recoil of 61.8% of the last major bearish momentum . From what follows that, above, in theory it is expected to return to the origin of the movement, at 4.25 euros.

Daily PharmaMar chart since April 2017

Finally, as for Santander, this is still a clearly bearish title. In fact, it is weaker even than BBVA. Moreover, the bearish guideline, by definition of resistance, now goes through the four euros. And to the extent that the price does not jump above the bearish guideline there is nothing to do, we will not have the slightest sign of strength to take into account beyond the typical bounces against trend, or reaction phases. Thank you very much, greetings.

Santander daily chart since summer 2017

Good morning, please indicate me entry price, ‘stop loss’ and exit price for Veolia and Legrand, thank you very much. Greetings.

Dear reader, good afternoon. Veolia It is an interesting title since it has broken upward a wide triangle (decreasing highs and increasing lows) that has been moving in recent years. The ideal would have been to enter when the price rested on the upper part of the triangle, before as resistance and now as support (throw back). Let's say that to the extent that it does not pierce the support it presents in the 21 euros, it is most likely that it will address at least the resistance zone that it presents in the maximums of 2009: the 27-27.10 euros.

Veolia weekly chart since 2009

As to Legrand, is a title in absolute free ascent, which with that everything should already be said. Where to try right now? At the base of the bullish channel through which the price has been shifting for a year, now in approx. 69-69.20 euros. And as a goal of ascent it is complicated, if not impossible, to determine a level, since it is a maximum value of all times, without resistance of any kind, not even dynamic. Thank you very much, greetings.

Weekly Legrand chart since summer 2016

Hi Mr. Rodriguez. I know that you He doesn't have the crystal ball as he reminds us sometimes, but it's always interesting to know his point of view. I have an investment fund that invests mostly in the Ibex 35, what evolution do you think the index can have in 2020? Thank you very much and greetings. C.MY.

Dear investor, good afternoon. In principle the sensations, specific corrections apart, are positive. Read here the analysis that we have done this morning on the European index, the STOXX Europe 600. But it is true that if I had to invest in Europe where I would least do it it would be in Spain, for the simple reason that this is determined to do worse than the rest of your neighbors over and over again. However, the resistance that has been perforated about a month and a half ago is key, since in many cases they refer to long-term resistance (now support), with significant bullish implications in terms of the long term. That does not take away so that along the way we attend more or less intense corrections within the impeccable background upward trends.

Daily graph of the Ibex in the last year

In the very short term, we have a bullish channel in the IBEX 35 by which the price has been shifting from the lows of August. The high part of it is currently quoted for 9,900 points.

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