We continue looking for headlines with some sense so as not to always repeat the same thing, as during the last weeks. The wire, the border, the dividing line, the old lost support that is now resistance. The fact is that, while the weekly commentary progresses, the famous song by Jonhy Cash, “Juanito Liquidez” is playing for friends, which is not yet painted to animate a boring market, despite today’s expirations.
I have commented on numerous occasions, the laziness that begins to give more and more managers and small savers, investing in Spanish equities. It continues to be noticed day by day in the scarcity of the volumes traded, with the surprising data, worthy of study, that on many occasions, the number of shares traded during the five minutes of the closing auction, exceeds the sales made throughout the session.
You can select companies with interesting fundamentals and growth possibilities, which present an upward technical aspect, but since you have the misfortune that that same value has been selected by one of the large funds to position themselves down, they will crunch you yes or yes , unless you run at the same time that the price reaches the maximum loss that you are willing to take. Given the possibility that the same broker where they have their shares deposited, may have been able to lend them, contributing to a certain extent to increase the disaster.
It is true that any investor can play on both sides of the market, but almost no one does, so the stock market is not only the anticipated thermometer of a country’s economy, or the place where saving meets the needs of financing, but also a kind of 24-hour casino, where anything is possible. Not forgetting that it has also become a kind of instrument for the transfer of income from the suffering middle classes to the so-called extractive elites, who win and win and win again, go up, down or stay sideways.
The opening with a bullish gap that animates the scenario, oscillating the day between the minimum at 8,356 and the maximum of 8,433, to end up closing at 8,380. Good closing for doing it almost in the middle of the session, but negative for not having been able to recover the important control reference located around 8,440 points, where we can place the border between good and evil.
The technical aspect, if we take into account that last Thursday the closing was at 8,399.60, it is practically the same, so there is little to add, except to adjust the ranges a little more for the next days: the wide between 8,210 and the 8,580 and the strait between 8,310 and 8,440 points.
The general recommendation continues to be to KEEP the winning positions: the most restless profiles as long as we do not lose the 8,350 area or if we cannot with the 8,580 points. The moderates and conservatives as long as we continue to close above the 8,280 and 8,210 points respectively.
Weekly summary and review of the most significant values.
The week (from the 9th to the 17th of December), ends with a decrease of 20 points, equivalent to a decrease of 0.23%, leaving the IBEX 35 with a gain of 306, 3.79% in profits so far this year .
Telefónica: continues to digest the increase in the dividend, staying almost within the same range, despite the fact that the recovery of 3.80 invites us to regain positions with great fear. Hold as long as it continues to close above 3.80 euros.
Santander: lost the important area of 2.70, but recovered it strongly yesterday after the news of the rate hike in the United Kingdom. Hold as long as you do not lose the 2.70 at the close.
BBVA: little to say about the last comment as everything is the same. Maintain as long as it continues to close above five euros for the mediocre or do not lose the 5.10 for the most restless profiles.
Iberdrola: it does not finish recovering the ten, but at least it does not lose the 9.80, which, as things are, is still a triumph. Hold as long as it continues to close above 9.80 euros.
Repsol: balancing in a situation quite similar to that of Iberdrola, as they are both flirting with the digit change, so we can accept yesterday’s close at 9.998 as good. Hold as long as it continues to close above ten euros.
Inditex: we can accept the support at 27.60 from last Wednesday (minimum 27.10), to regain positions in a stock that despite its poor technical aspect can react at any time. Maintain as long as it continues to close above 27.60 for the mid-level players or do not lose the 27.80 for the more restless profiles.
As always, happy week and good luck in the stock market and in life.
LEGAL NOTICE: this comment is not an invitation to buy or sell shares. They are simple references for each investor to make their own investment decisions based on their risk profile.
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We walk the line – From the parquet