CIE (+ 9.8%) and Gestamp (+ 7.37%) have joined the green party in the IBEX 35. Both values are, along with banking, one of the most up in the Spanish selective. And they have done so thanks to the strong progress being made by the European automotive sector at the moment.
From a technical point of view, Bolsamanía analyst J.M. Rodríguez states that this move is more of a rebound than a raise as such.
"In perspective, from the November highs (when it started to drop) to its March lows, the index was down 53%," he says. "Since then, it has recovered 55%," he continues.
"Technically, it seems that it is going to the resistance zone, around 410-415 euros, before a very important support level that was drilled in February." If you do, "this would mean an additional 10% rise"concludes.
From CIE, Rodríguez pointed out in late April that the title had drawn a 'pullback' towards resistance at 19.30 euros. He also recalled that the value has rebounded 65% from its March lows. Regarding Gestamp, the company closed the first quarter of the year, earning 65.8% less due to the "abrupt" fall in activity due to the virus.
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