Technical analysis office: Telefónica, Repsol, IAG, Inditex, Audax Renovables, CaixaBank, Airbus and Petrobras
Next, we give answers to the values for which we have been asked the most throughout the morning. José María Rodríguez, technical analyst at Bolsamanía, analyzes Telefónica, Inditex, Audax Renovables, Petrobras, CaixaBank, Repsol, Airbus and IAG.
Hello, José María. I am invested in Telefónica at 9.14, 8.90 and 7.40 euros in this order of prices. At Inditex at 32.20 euros and at Audax Renovables at 1.98 euros. As you can see with large losses in the first two, which is also where I have the highest percentage invested. That said, I would ask you to please analyze Audax for a future rebound and invest all the liquidity I have here and be able to recover with that rebound at least the last two. Because telephone companies have to be forgotten for a while. Thank you very much for your attention and your work. A greeting. T.F.
Dear reader, good afternoon. Telefónica It is a value that we analyze, because we are asked frequently, several times a week. And with respect to what was discussed in the analysis of this Tuesday (you can read it here) there is no change in this regard. We are still in the rebound phase and we cannot rule out that, in the best of scenarios, this will lead to resistance levels close to 5.30-5.35 euros (formerly a major support area). But there is no doubt that, if we believe that great double weekly and monthly ceiling, rebounds apart, the projection of a fall would bring it closer to price levels close to 2.50 euros (2002 lows).
As to Inditex, it is managing to recover better than the market average part of the very strong previous falls. We have him bouncing from the base of a broad lateral-bearish movement of several years. Or what is the same, as long as the March lows are not drilled (18.50) it is possible that this will try to fill, at least partially, the last of the big weekly bearish gaps: the 26, 84 euros.
And finally, regarding Audax RenovablesWe have you trying to react from very interesting support levels. As it is the top of an old bullish channel, formerly resistance and now support. Although in reality the key is in the support that it presents in the lows of October 2018 at 1.17 euros. Price level that has been respected in the last corrective phase. Thus, to the extent that this support does not pierce, we understand that the conditions are in place for the title to try to recover positions from here, or at least rebound without many problems to the resistance zone of approx. 1.85 euros. Regardless of its purchase price, we have the key reference to respect at all times in the support of 1.17 euros. Thank you very much gentleman, greetings.
Very good, José María. I love your comments and I follow them regularly. Let's see if I'm lucky this time. I would like your opinion on whether it is a good time to enter Petrobras, whether in the short, medium or long term. It seems that oil will not be able to maintain these prices for a long time since it is not profitable for the American exploitation of shale oil and sooner or later if they do not rise there will be a shortage and will end up rising. And also CaixaBank. Thank you so much for your help. J.S.
Dear investor, good afternoon. The Brazilian oil company Petrobras, which has fallen sharply in recent weeks in line with the price of a barrel of oil, is currently trading in the middle of the support zone: what appears to be a long-term bullish guideline linking the rising lows of 1999 and 2016 and what would happen at this time in the annual minimum area: the approximately 10 Brazilian reals. Let's say that if there is a time to jump into the pool it would be now, in the middle of the support area. But be very careful to drill this support, because otherwise you could look for the origin of the last bullish momentum, this is the area of 5.67 Brazilian reals.
Regarding CaixaBank, the price has returned to the 2016 lows at 1.58 euros and has stopped there. And now it could bounce perfectly towards the two euros within the typical movement in ‘pull back’ to the new resistance zone, before support. But be very careful not to respect the 2016 lows because there would be nothing below until the 2012 lows, at 1.39 euros. As I have been repeating in recent days this title will recover when the whole sector does it in blocks, when the EURO STOXX Banks does it, which is quoted in absolute free fall. Thank you very much and very kind for your words, greetings.
Good morning, I would be grateful if you could tell me what you think of Repsol's action and where you see the ground for it. J.V.
Dear investor, good afternoon. The monthly chart of Repsol Now that we have closed the March candle, it makes it very clear that it has managed to stop the collapse near the support area of the last great oil crisis in 2016, at the doorstep of six euros. But it is that, in addition, there is another equally relevant support than that presented in the 2009 lows, at 5.60 euros. In summary, Repsol presents a very important support area in the area of 5.60-6 euros. It is key that this level of support is not drilled. In previous crises and each time you have visited said control area, you have ended up demonstrating a clear buying opportunity in long-term terms. A greeting.
Good morning, my query is as follows: I have IAG and Airbus shares that I thought I bought at an interesting price a couple of weeks ago and the truth is that despite this I lose 30% on average to both. I still have a lot of liquidity and I don't know whether to increase positions in the two or better let it be and when the rebound arrives, run away, but in a more or less dignified way. What do you advise me to do? I know you don't have the crystal ball, don't worry. Thank you very much for all your analysis. Greetings from Cáceres. C.H.
Dear reader, good afternoon. As the airline industry will know, and everything around it is practically sunk. Many of the large airlines have dropped 70% in the last month and, with specific rebounds apart, we still do not have any sign of strength in the sector. None. In general, the whole market is the same, but airlines and hotels are even worse. From IAG There is not much to say because it cannot be more bearish, which is not an impediment for it to bounce strongly at some point. In fact, we find the first resistance zone at 3.15-3.20 euros and above this we have the impressive weekly bearish gap of four euros. Or what is the same, as long as the bearish gap of four euros is not closed we will not have the slightest sign of strength in the title.
And refering to Airbus three quarters of the same. It recently bounced above 20% last week, but it was just that, a simple bounce and nothing else. It cannot be ruled out that once again it is directed towards the support that it presents in the annual lows (48 euros). And depending on whether they endure or not we can talk about a potential market ground. But right now we have nothing, just a violent and rapid rebound of over 50% after a slump from the February highs of 66%. I would not add more positions in this sector because everything can happen if the coronavirus crisis lengthens and becomes entrenched over time. Some company, if it does not receive aid, may not survive. Thank you very much, greetings.
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