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Technical analysis office: Telefónica, Meliá, Oryzon, Grifols, Grenergy, Mapfre, American Airlines and MercadoLibre


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 MercadoLibre, Grifols, Grenergy, American Airlines, Mapfre, Meliá Hotels, Oryzon Genomics and Telefónica.

Technical analysis

Hello, José María. I have written to you several times with technical questions with no luck to answer, I understand that you have many requests for inquiries from investors. In any case, I am always reading to him and learning every day. I would like to know how the MercadoLibre graph technically looks. Thank you. Regards. I.SP.

Dear reader, good afternoon. Free market It is a company that we analyzed not long ago in this office. We try to always accommodate all the questions that are put to us and as it is impossible to answer all some questions we leave them in queue for the following offices. That said, MercadoLibre is a clearly bullish company in long-term terms as can be seen in the long-term monthly chart. In addition, recently the title has exceeded the annual (and historical) maximums that it presented in the maximums of February, placing for the umpteenth time in absolute free rise. And there is no greater sign of strength than that of an all-time high title. The graph cannot be more bullish. Thank you very much gentleman, greetings.

MercadoLibre monthly chart

Good Morning. Could he do a Grifols analysis? I wanted to know if it is good to continue inside or the climb is already exhausted. A greeting. C.L.

Dear investor, good afternoon. The problem of Grifols is that despite being a clearly bullish value in terms of the medium and long term, it is possible that it looks for the base of the long-term bullish channel (support), now at approx. 22 euros, without ceasing to be bullish. To me it is a title that I like, but at the closest possible price levels to the base of the channel. Not in anybody's area, which is how it is listed right now. A greeting.

Grifols weekly chart

Hello good day. I would like to know how you see Grenergy and if you think it is a good time to join American Airlines. Thank you. I.P.

Dear reader, good afternoon. Grenergy It is a value that despite the falls in recent months is bullish in long-term terms. The only thing is that entering now the ‘stop’ is very far from the current price levels: the last reaction minimum at 8.50 euros. While it seems to want to attack the resistance presented in the 14.25 euros. Let's say that above the last declining maximum we will once again have an important sign of strength in the renewable energy company. The control zones in this title are clear, the March lows as a key support zone and the April highs as resistance to beat to have an improvement in its technical aspect.

Grenergy weekly chart

As to American Airlines, we are talking about a clearly bearish title. This does not mean that it can bounce strongly at any time (reaction phase). I want to keep the potential formation back to which it may be giving an inverted 'head and shoulders' shape that would confirm, a priori, above the resistance of $ 12.55: last week's highs. If confirmed, the theory says that at least the height of the ‘head’ should be raised, that is, towards the area of ​​approx. $ 20, also coinciding with an adjustment of 50% of the previous fall. Then, in short, it is bearish, but it seems that we may be facing a change in trend, at least as a rebound. Thanks to you, greetings.

American Airlines Daily Chart

Good morning, José María. I am writing to know your opinion about Mapfre. Do you think this is a good time to enter the title? Thanks in advance and happy day. D.G.

Dear investor, good afternoon. What I like about the graph of Mapfre It is the impeccable double support (not double bottom) at the support level of the March lows, at 1.3 euros. Support that coincides, to the penny, with the 2016 minimums. From which it follows that any potential recovery of the title in terms of medium and long term happens because the annual minimums are respected. The problem is that said support is very far from the current price levels. That said, everything suggests that we are facing a rebound towards the large weekly bearish gap that, on the other hand, presents 95% of the titles in our market, at 1.88 euros. This is today the clearest resistance in the securities of the insurance giant. Closing this bearish gap would undoubtedly be the first sign of strength in a long time. Thank you very much gentleman, and also.

Mapfre weekly chart

Good morning, I am José Sellés. Could you analyze Meliá Hotels? I would like to enter with a long-term view (10-15 years). I think that at this juncture this value presents a very attractive price, but I would like to know how far you think it can go down. And if he's so nice, I'd also like him to analyze Oryzon. Thank you very much for your attention and a very cordial greeting.

Dear reader, good afternoon. I do not say that Meliá Hotels It may not be a good long-term opportunity, it can perfectly well. But at the moment everything fits perfectly into what is a simple rebound (reaction phase) after a 70% crash. The problem is that it entered right now it seems to me to be somewhat late to the market after the important rebound that it has taken in recent weeks. And more when we have significant resistance around the corner, in the weekly bearish gap of 5.46 euros. Normally, this gap is filled completely / partially but is not closed (canceled) the first time it occurs. And then, perhaps, on a second try I will be more successful with such resistance. If I had to try it in this title it would be in the support area closest to the bullish gap of the session on May 25 at 3.48 euros. In the environment of 3.48-3.75 euros (50% gap) it seems an interesting support area to try in the title later.

Meliá Hotels weekly chart

As to Oryzon Genomics We have you in the middle of the resistance zone, again attacking the bearish guideline that joins the impeccable declining maximums since the summer of 2018 and which currently passes through the vicinity of 3.80 euros. Although it is true that the resistance to beat is in the last decreasing maximum, 3.90 euros. Above this resistance in closing prices and with ease we will have an important signal of strength in the title, which can set course for the historical highs at 5.25 euros. Thank you very much gentleman, greetings.

Oryzon Genomics weekly chart

Good morning, José María. I have Telefónica shares at 4.89 euros for the long term (a couple of years). Could you tell me which supports and resistances are the most important at this time in the operator? Do you think that taking up the 'scrip dividend' can give courage to wings? Thank you very much for that section that I never miss. Greetings from Burgos. I.PD.

Dear reader, good afternoon. Starting with the crip scrip dividend ’comment that it does not really have a real impact on the company. Just as the dividend does not have it either, since it is true that you pay money into the current account which, on the other hand, is subtracted from the share price. And with ‘scrip’ the same thing happens. You are given more shares, but at the same time, Telefónica dilutes its value with more 'pieces of paper' so to speak. So in the end the result is practically (tax aside) neutral. As I like to say, if we analyze it objectively the dividends / 'scrips' are a simple placebo effect.

Technically, I think the titles of Telefónica They have headed for the resistance area, previously support, of 5.30-5.35 euros: a priori, the clavicular line of a large double roof. I invite you to read here the last analysis carried out on the operator. Thank you very much gentleman, greetings.

Telefónica monthly chart

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