The Ibex 35 has managed to close the first day of the week on the rise (+ 0.3%) but has not been able to reach the 9,500 points it has reached this morning. Banking results in the United States, which encouraged the markets on Friday, did the opposite on Monday, although Goldman Sachs and Citigroup fell on Wall Street after presenting their accounts. The selective faces Easter with the aim of exceeding 9,550 points (the annual highs) to confirm the start of another new upward stretch and although it has made very little progress, it has been the one that has climbed the most among the European ones.
- 11.072,200
- -0,74%
Within the Spanish selective sector, the strong rise of Siemens Gamesa (+ 4.37%) was highlighted, after Deutsche Bank began to close in on the value, believing that it will extend its rally. Also Mediaset has added 0.54% amid rumors of a merger with the German ProSiebenSat, although both entities have denied.
On the other hand, Ezentis (+ 0.3%) and Telefonica (+ 0.47%) have made headlines after winning a contract in Brazil, as well as Caixabank, which will pay its final dividend for 2018 on Monday. Andrea Orcel will sue Banco Santander (+ 0.01%) following the "unacceptable" proposals of Ana Botín, president of the entity.
EUROPE HAS CLOSED FLAT
In Europe, the main stock markets have closed practically flat although the macro data published this past morning in China has left a very good aftertaste.
On the European political front, the EU is expected to vote on Monday the mandate of the European Commission so that it can start trade negotiations with the US. The eyes will be placed especially on France, to see if it opposes giving green light to the body or not.
TECHNICAL ANALYSIS
"The Ibex is asleep, and it's understandable since it rebounded 15% all the way from the December lows." The trend continues to be clearly bullish in the short term, but it is true that we no longer go up with the same joy than before, something logical and normal on the other hand, "commented José María Rodríguez, technical analyst at Bolsamania.
"The loss of 'momentum' or cruising speed is more than evident, and this is only corrected either by falling with a certain violence or waiting it out, this is deploying a wide lateral movement, as far as the short term is concerned. We don't dare to approach the resistance of the 9,550 points nor does it seem that we want to test the support of 9,360-9,365 points ".
"Therefore we are waiting for the price to decide to jump on one side or the other, and as long as we remain within this narrow range of prices, we can scrape a little bit. The daily overbought is still there and let's not talk about the weekly one. thus, it is difficult to keep climbing positions in an energetic and continuous way ".
"That said, below the 9,360 points the next support zone is at the base of the short-term bullish channel, now at 9,260 points, while jumping above the annual highs we have the area of 9,700 points : the upper part of the bullish channel, "he added.
