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Technical analysis office: Ence, MásMóvil, Sabadell, CaixaBank, Sacyr, ING, Wirecard and bitcoin


Next, we respond to the values ​​for which we have been asked the most throughout the morning. José María Rodríguez, technical analyst at Bolsamanía, analyzes ING, Wirecard, bitcoin, Sacyr, Sabadell, MásMóvil, CaixaBank and Ence.

Good morning, José María. My question is about ING, how do you see the value and its projection? Greetings. A.G.

Dear reader, good afternoon. ING It is a title that we expected much more in the short term, something that in general we also expected from the entire European financial sector. And ours as a whole. Not long ago we analyzed it in this section and said of it that it presented a potential ‘head and shoulders’ inverted, which finally could not be confirmed. But that does not mean that it cannot continue to rise, because the important thing is that the price continues to present impeccable minimums and maximums rising since this summer. And so it does not fall. Let's say the possibility of continuing to climb positions remains intact, but somehow it is losing ‘momentum’ (cruising speed). As the most important support area at this time we have approximately 10.05 euros. And as resistance we have 11.25 and, above all, 12.14 euros. In short, it is still bouncing, but there is some exhaustion of the upward trend in recent months. Thanks to you, greetings.

ING weekly chart since 2015

Good morning, José María. How do you see Wirecard, after the last falls? I bought it at 113 euros. Do you think you can experience a strong rebound? Thank you. V.M.

Dear reader, good afternoon. The only thing that should be noted about this title at the present time is that we have it relatively close to the resistance zone that it presents in the price range between 133.50-140 euros: the imposing bearish gap of mid-October. And we know that, by definition, this type of ‘gaps’ usually work as resistance. So we do not rule out that, around the current area, and even above, there can be a clear downward turn in the titles of Wirecard After the price approaches resistance levels that will not be easy to leave behind. Very rarely this type of gaps can be closed, or what is the same annular, on the first occasion that occurs. Thanks to you, greetings.

Wirecard daily chart in the last year

Hi José María. Good Morning. What forecast do you handle for bitcoin in 2020? Greetings. J.R.

Dear reader, good afternoon. It makes no sense to set price forecasts at any value / index for this year, nor for any other. Do the forecasts of the different banks / brokers serve something? In fact, experience has shown us that these are useless and nothing and very rarely succeed. In fact, they do not approach in many cases. That said, you can get an idea if we talk about bitcoin, because there is no underlying more volatile than this. In the short term, the interesting thing is that the price has jumped above the base of the bearish channel since last summer and this is itself a promising signal. Although the resistance to beat is in the $ 14,000 and above $ 20,000. Above the first great resistance (the highs of 2019) we will have a clear sign of strength and above the 20,000 dollars (historical highs) it is likely that you will experience a very strong upward movement. On the bottom, on the side of the supports, the most important one is at $ 6,400. Greetings.

Daily chart of the future of bitcoin (CME) since May

Good morning, Mr. José María. My question is about Sacyr in the medium term, please. Thank you. L.P.

Dear investor, good afternoon. Sacyr It is a clearly bullish title today. Just look at the weekly chart of the title since the beginning of 2019 and the impeccable bullish channel through which it has been moving since then. The only ‘but’ is that we have the title very close to the upper part of the bullish channel, by definition resistance, around 2.80 euros. And above there is nothing until 3.50 euros. Of course, if I had to get on the shopping train, I would do it at the closest possible price levels to the base of the channel, not at the top of it. Can read here the analysis we have done this morning on this title for our page. Thanks to you, greetings.

Sacyr weekly chart since 2015

Congratulations on such interesting analyzes. On Banco Sabadell, it seems that it does not finish breaking resistance on the current level, is it advisable to enter or wait for the break? At what level should one enter? R.G.

Dear reader, good afternoon. The dripping down the last few weeks in Sabadell It fits absolutely within normal parameters after a rise from 0.70 to 1.10 euros with hardly any major corrections. The only thing is that the latest corrections cancel somehow the potential formation of upside implications on ‘head and shoulders’ inverted that seemed to confirm above the resistance of 1.05 euros. That does not mean that you can not climb, it just means that if you do it will be as a result of something else. After all, we continue to have increasing minimums and highs since last summer, and so it does not fall. And it is that a potential fall towards 0.90 euros would correspond to an adjustment / setback of 50% of the last big rise, correction that is repeated regularly in the markets. The 61.8% retracement would take you to the area of ​​0.85 euros. Let's say you are in a situation similar to ING, which we analyzed at the beginning of the office. The area of ​​0.85-0.90 euros, if reached, can be an interesting price level. Very kind for your words, thank you very much.

Good morning, José María. What do you think about MásMóvil? I've been holding it in my wallet for a few months and it hasn't just taken off, do I sell or keep? Thank you so much for your opinion. M.PR.

Dear investor, good afternoon. MoreMobile It is an always complex title, not easy to operate with it because the upward movements are done in 3-4 sessions and then dripped down weeks-months. Dizzy partridge. Which means that when it breaks resistance it moves very fast and either you are inside or it is easy for one to miss them. That said, MásMóvil continues to move laterally for two years, but within a very clear upward trend. In the very short term, it can be said that it is a title that can be kept in portfolio as long as it respects the support it presents at 18.60 euros. I invite you to read here the analysis we did last Friday on this title. Thank you very much, greetings.

Hi, Mr. Rodriguez, good morning. What is your opinion and perspective on CaixaBank and Ence for the next months of 2020? Thanks for your time. K.

Dear reader, good afternoon. The graph of CaixaBank It is similar to Banco Sabadell. Highlight of this, if any, the short-term bullish channel in which the price continues to shift and from which it can bounce again in search of the high part of it, now in approx. 2.95 euros. The daily oversold is very important and it seems that the oscillators are currently crossing and turning upwards, which leaves the door open for us to be at the doors of the beginning of a new bullish movement in the titles of the financial institution. At least the CaixaBank chart seems clearer than Sabadell's in the very short term.

As to On It's a title that is getting very interesting. This confirmed last week a close with slack above the resistance presented in the upper part of the bearish channel. And he did it with a significant increase in trading volume. Let's say a little more push is needed, which jumps to be able to be in weekly candles above 4.07 euros (November highs). What we do not know, is impossible, is if before it will rely again on the top of the channel, in the form of ‘throw back’. But there is no doubt that the sensations cannot be better. I invite you to read here the analysis that last week we hung on the title. Thanks to you, greetings.

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Note: Investment decision making must be done in a responsible manner and being aware of the risks assumed. Web Financial Group accepts no responsibility for the content and analysis of the office. It is also noted that the operation in the stock market involves a high risk and involves constant monitoring of the position.

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