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Santander has no pulse: without the slightest sign of strength

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Within the financial sector of our country, the Cantabrian entity is one of the values ​​that present the most weakness. It remains impeccably bearish in terms of the long term.

Technical analysis
VALUES IN BEARING TREND
VALUES IN BEARING TREND

Short term

Medium term

Long term

The first bank in our country has been showing itself for a long time weaker than the whole of our financial sector, and let's not talk anymore if we compare it with the European banking sector. The falls of the last sessions, slow but continuous, are approaching the support area of ​​the approximately 3.50 euros and if this price level will be drilled at closing prices in the coming days, we do not rule out a return towards the 2019 lows at 3.30 euros (adjusted the price series to all dividends distributed). And that's where the key to everything is, in the lows of last year. It is critical that this support works, because if we drill we cannot rule out that finally the price subtracts the whole of the last big bullish momentum, that is the minimum of 2016 at 2.60 euros. Above, on the resistance side, the most important at this time, and quite far away by the way, is the bearish guideline; now at 3.90 euros.

Daily chart since March 2016

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