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The best and worst values ​​of the Ibex 35 in this first half of the year


The first half of a very turbulent 2020 lashed by the great global pandemic produced by the Covid-19 ends. The Ibex 35 accumulates falls, since the beginning of the year, close to 25%. The Spanish selective is one of the indices of the old continent that offers the worst technical prospects and is that if it ends up abandoning the 7,000 points we do not rule out ending up seeing a return to the annual lows that it would draw in the month of March. Any recovery of the Spanish index goes through the overcoming of the resistance of 7,663 points, maximums of the bearish gap that was left on the 11th of this month of July, which is ending. Within the Ibex 35 there are stocks that have undergone an impressive evolution in this first half of the year. An example is Cellnex that accumulates earnings close to 40% while the negative side is IAG with falls of 65%. Below we will take a look at the best and worst of the Ibex 35 in these first six months of 2020.

Technical analysis

At the head of the climbs is Cellnex. The company has appreciated around 40% without losing even the average of 200 sessions, an average over which it has remained at all times. The overcoming, a few days ago, of the resistance of the 53.33 euros once again left the company on free rise with many possibilities so that we end up seeing an extension of its main uptrend that could perfectly end up taking its price series to the level of 60 euros. We will not observe the slightest sign of weakness as long as it remains trading above 46.71 euros, the lowest in the last sideband.

In second position is Viscofan. The company has increased by 25% and today is a value that we should take into account. The company has been moving in a sideband for two months in what appears to be a bullish continuation figure. We will be very aware of a close above 60 euros as it would be the signal that would make us think of the beginning of a new bullish momentum that could end up taking its price series to the level of 67 euros in the coming weeks .

Iberdrola It is positioned as the third value of the Spanish selective that has appreciated the most since the beginning of the year. Its current technical aspect is very good and is that the company has shaped a throw back to the average of 200 sessions and it seems very likely that we may end up seeing a sign of strength that makes us think of a continuation of the increases. A close above 10.27 euros would be the signal that would make us think of an extension of earnings to the level of $ 11,354, all-time highs drawn in the month of February.

Among the values ​​that have behaved worse in these first six months of the year, it stands out IAG more than 60% have been left. Although in recent weeks the company has experienced a rebound it has not served to improve its dire technical aspect and everything seems to indicate that we could end up seeing a return to annual lows that would draw 1.80 euros. To observe a technical improvement, we should wait for a close above 4.04 euros, prices 60% above current trading levels.

In the second position of those of the Ibex values ​​that have fallen the most in this first half of the year is Merlin Properties. Socimi has dropped 40% and today offers no sign of strength that would make us think of the end of its main downtrend. The significant decreases seen in recent weeks make us be very aware of its behavior in the annual lows it presents at 6.55 euros. Today it is a value that we should not touch. Only with the surpassing of 8.80 euros would we begin to see any improvement in its price series, although for this it should revalue close to 20% from the current price levels.

Finally we have Amadeus that more than 30% has been left in these two quarters of the year. Its technical aspect is not as bad as that of IAg or Merlin Properties and it is that after the good behavior experienced since the middle of the month of May we could end up seeing an attack on the average of 200 average sessions that broadly separates the downtrend. of the bullish. The key resistance is at 55 euros. If it were to overcome this resistance level, it is very likely that we could end up seeing an extension of the earnings up to $ 65.


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