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BBVA: the correction has slowed down to the cent in the 61.8% retracement


We have just known the accounts of the second bank in our country, so it is expected that this experience strong movements today. But where to?

Technical analysis

Short term

Medium term

Long term

The titles of BBVA They have confessed to the market this morning and during the first minutes the stock has come to revalue about 3%. But you don't have to throw the bells on the fly so soon because what matters to us is the closing, not the opening. Remember that "the market is opened by newbies and closed by professionals"That is to say, the closing is the one that will give us all the relevant information of the session. For now, and in view of the important oversold levels, everything fits perfectly into what is a rebound (reaction phase) after the last whiplash that has taken him from 5.15 to 4.50 euros, but in the rebound the price has indicated us a very interesting support level at 4.50 euros, reference that corresponds to the cent with a backward movement of the 61.8% Fibonacci of the previous upload. Or what is the same, any minimum possibility that the title tries to restructure again to the upside with a first objective of rise in the highs of December (5.15) happens because the minimums of January are respected at all times: 4.50 euros.

BBVA daily chart in the last year

. (tagsToTranslate) BBVA: (t) correction (t) braking (t) cent (t) 61 (t) 8% (t) recoil (t) Category: All (t) Category: Market Report (t) Category: Technical Analysis (t) Category: Pulses (t) Category: Analysis (t) Category: Market Pulse (t) Category: Sectorial: Finance

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