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The Ibex rises 0.4% and reaches new annual highs at 9,700 points

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The Ibex has risen 0.4% this Friday and has reached new annual highs at 9,700 points. The stock market closed on Tuesday and Wednesday, but the Spanish selective has managed to register its fifth consecutive week of earnings by picking up 0.25% since Monday.

One more day, the low volume and tranquility have once again marked the roadmap of the investor, and this situation is expected to remain until the first measures of 2020. It will be then when the first catalyst of the year takes place: the signing of the phase one trade agreement between Beijing and Washington.

The two largest economies in the world continue to feed that optimism. This Thursday, the Chinese trade minister said his country is still in contact with the US. At the same time, Donald Trump said the agreement "will be made" and that there will be a ceremony with his counterpart of the Asian giant, the president Xi Jinping.

Back to Ibex, Ence has been the most bullish company with a 2.48% rise, ahead of Cellnex and Acciona, which have advanced 1.88% and 1.83%, respectively. On the negative side, Bankia has been the most punished value at a 1.97% decline, followed by ArcelorMittal (-1.12%) and ACS (-0.54%).

In the Continuous Market we must highlight Vertice 360 ​​crash. The company's shares have lost 8.33% after the Board of Directors has proposed a capital increase of 250 million euros to integrate the media area of ​​the Spanish group Squirrel Capital.

TECHNICAL ANALYSIS

"We are going to close 2019 with the Ibex in the highs of the year, although being fair it is necessary to remember that clearly lagging behind our European neighbors. Technically and as we have commented in recent days, the side of the last week and a half it seems to be part of a trend continuity formation in the form of a flag, "he says José María Rodríguez, analyst of Bolsamanía.

"This pattern can lead you without much trouble to the potential resistance zone that it presents at the top of the channel, now at 9,900 points. The only 'but' in the short term is called daily overbought. This throws extreme readings and although we know that by itself it is not a sufficient signal to cause the start of a corrective phase, it is true that it takes momentum (momentum), "he adds.

"So we can remain a good side time but with some upward bias with an eye on 9,900 points. Today it is hard for me to believe that I can climb more without a short-term correction (reaction phase) than before somehow drain the last excesses, "concludes this expert.

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