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Technical analysis office: Santander, Arcelor, Ence, ACS, Oryzon, Línea Directa, petroleum …



Next, we give an answer to the values ​​for which we have been asked the most throughout the morning. José María Rodríguez, technical analyst at Bolsamanía, analyzes ArcelorMittal, Línea Directa, ACS, petroleum, Ence, Faes, Santander and Oryzon Genomics.

Technical analysis

Good Morning. I would like an appraisal of a value that is highly commented on by you, ArcelorMittal. Short-term supports and resistances. I appreciate the opportunity to participate in this section and also grateful if as a result of this they respond to my request. All the best. I.O.

Dear reader, good afternoon. ArcelorMittal He confessed to the market this Thursday (you can read the results here) and we are going to see what the closing of the weekly and monthly candle remains. But we certainly have the value at key resistance levels. The 30 euros have acted as resistance on several occasions: highs of 2013, 2014 and 2018. And right now it is trying again. A loose weekly close, and if it is in monthly candles even better, it would trigger a clear signal of strength in the steel giant in terms of the medium and long term.

This Friday we have weekly and monthly closing, so we will be attentive to the candle that ends up drawing the value. If you are already in, we are facing a clear hold, but opening long at this point in the game and before resistance of such magnitude does not make much sense to say. Thanks to you, greetings.

ArcelorMittal weekly chart

Good morning, I would like to know the possible evolution of Línea Directa. Thanks for your help. M.

Dear investor, good afternoon. Direct line It is a title with very little history and therefore there is practically no technical analysis that is worth it. Among the little that we have, it is worth highlighting a support in the area of ​​1.67 euros and as more immediate resistance 1.84 eros. And as the main control areas, the historical lows at 1.50 euros and the highs, at 1.91 euros. And little more can be said today. Thanks to you, greetings.

Direct Line daily chart

Hello, Mr. Rodríguez. Thanks for your interesting, didactic and clear analyzes. I wanted to ask you about ACS. All the target prices place it at 32-37 euros, but it never seems to reach even 30. In addition, in recent weeks it has been falling sharply despite recent rebounds. To what extent should we be concerned and how do you see the target price above 30? Thanks. J.DR.

Dear reader, good afternoon. ACS it is immersed in an erratic lateral movement, with support at 17 euros and resistance at 27-27.50 euros. And in reality everything that happens within it will have no major price implications. This value doesn't tell me anything right now. It is a non-trend value and the only positive in short-term terms is that it has just “stuck its head” above the bearish channel of the last few months. But nothing else, it is listed very far today from the main control areas. This Tuesday the construction company announced the results of the second quarter of the year, you can read them here.

ACS daily chart

As for the recommendations, what do you want me to tell you. They are useless. Experience has shown us all that 80% of the time they are limited to going after prices, for better and for worse. I wish the market was as simple as that, like launching a recommendation and having prices heading towards it. Rather, the opposite occurs, that prices tend to do just the opposite of what the vast majority think. Thanks to you, greetings.

Hello, José María. I am a regular follower of your analysis and I would like to know how you see oil between now and the end of the year. I am invested in an oil ETF and I earn 50% on the investment. I don't know whether to keep it or collect benefits and something else. Greetings from Granada and have a good summer. R.HV.

Dear investor, good afternoon. I'm still positive with the price of Petroleum, especially since it broke the resistance of 72 dollars / barrel in the case of the continuous future of the Brent-type barrel. The falls of the last sessions / weeks would fit perfectly within what is a 'throw back' to the old resistance, now support. Let's say that, with its one-off corrections (reaction phases), everything suggests a move towards the area of ​​$ 86.75 (2018 highs) and even the resistance of $ 90 in the coming months. In short, there is no reason to get rid of bullish positions in the price of oil. Thanks to you. gentleman and I wish you the same. All the best.

Weekly chart – Continuous Brent Future

Good morning, Mr. José María. First of all, thank you for the dissemination of this section and your accurate analysis. I wanted to ask him about Ence and Faes. If you consider them two good investment options. Thanks a lot. F.B.

Dear reader, good afternoon. Ence is in the rebound phase after a previous collapse of 25% in just two sessions. Somehow it would be attacking the important resistance zone that it has in the bearish gap that it left in the middle of the fall at 2.92 euros. And below we have as support the minimums of the correction (2.42) and, above all, the upward gap of the November 13 session at 2.26 euros. It can be said that the gap has been filled to 50%, by definition the support area. Complicated the current moment of value, no doubt. The only thing that can tell you is that the profitability-risk equation is optimal at this time on the long (bullish) side at the closest possible price levels to the gap of 2.26 euros, with a 'stop loss' at the same.

Ence daily chart

As to Faes, It is a value that does not tell me anything either. Or at least nothing interesting. The only thing to hold on to is the fact that the last corrective phase may have found ground in the support zone of 3.20 euros, through which the line that joins the rising lows of March and October 2020 would pass. Above On the resistance side, we have the annual highs (3.94) as the most important control area at this time. We cannot rule out a short-term rebound as a result of the significant daily and weekly oversold levels. But little else. I don't think this is an interesting option if you want me to be honest. Thanks to you, greetings.

Faes daily chart

Hello good day. I have shares in Santander and Oryzon Genomics. Both with gains, but few. It seems that these no longer rise with the joy of yesteryear. Does this mean that they will no longer go up? I don't know whether to sell them, even with little profit before I can go into a loss. Greetings and thanks for this section. G.RC.

Dear investor, good afternoon. I have to admit that I expected more from the stock, especially since it first leaned on the old bearish guideline (throw back). Since then Oryzon Genomics It has been deploying one side since the beginning of the year, with support in the area of ​​approx. 3.25 euros and resistance at 4.40 euros. It would seem that the conditions exist to end up opting for the climbs, but it is true that it does not finish starting. Let's say it is a sideways value with some bullish bias.

Oryzon Genomics Weekly Chart

As to Santander Bank, we analyze it this Wednesday (You can read it here) and how can it be otherwise, everything remains the same. The falls of the last few weeks fit perfectly into what would be a support in the form of a 'throw back' to the old bearish guideline, previously resistance and now (probably) support. Which is not an impediment for it to move laterally for a while. Important that the support of 2.88 euros is not pierced. Thanks to you, greetings.

Banco Santander weekly chart

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