Technical analysis office: Sabadell, ArcelorMittal, Solaria, Quabit, Audax, Ezentis, Tubacex and oil
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 Quabit, Audax Renovables, Solaria, Banco Sabadell, Ezentis, ArcelorMittal, Tubacex and oil.
Dear José María, I would be grateful if you could carry out one of your great analyzes on Quabit in the medium term, in which I lose a lot of money for my modest abilities. And also, if we abuse, Audax Renovables and Solaria. Thanks in advance. A cordial greeting. L.OD.
Dear investor, good afternoon. Quabit It is a very bearish title that there is nowhere to take it, which does not mean that we can attend important rebounds against the trend. As I like to say to the market we have to go buy strength, not buy weakness. And proof of the weakness of this is the fact that we have it close to the annual and historical lows (0.3580). And below we will have new historical lows. For the next, aim to buy stocks on a bullish bottom, that is, strong stocks. Buying weakness our money will not go far.
As to Renewable Audax We have him deploying a wide side above a clear bullish channel. The only "but" at the moment is that we have him in the no man's zone, far from the control zones below and above. Let's say it is a title that I do not dislike as long as it respects the support it presents in the March lows (1.22). Above, on the resistance side, the most important is found in the annual maximums (2.76). But within the mentioned price range little more can be said, since the price is embedded within a wide side.
And finally, regarding Solaria, It is a title that has once again shown strength after leaving behind the significant resistance it presented in the range of 10-10.30 euros. The bullish guideline in the background is impeccable and the truth is that, apart from corrections, it no longer presents significant resistance until the area of 12.50 euros and above the historical maximums (everything is far away, it must be said), at 24.27 euros. Very kind for your words, gentleman, thank you very much.
Good morning, I would appreciate analysis of the actions of Sabadell and Ezentis. Is there a lot of risk in any of them, so it would be better to sell at a loss now? I await your news. Thanks in advance and greetings. C.MG.
Dear reader, good afternoon. Sabadell it remains a very bearish title despite recent rebounds. In fact, even if it were heading towards the area of approx. 0.53 euros we would be talking about a simple ‘pull back’ at the base of the old bearish channel, formerly support and now resistance zone. I do not know its purchase price, but although it is true that I think it can still bounce strongly it is a value that under no circumstances would it have in its portfolio. Why? Very simple, because it is a very bearish value in terms of the medium and long term.
Ezentis It is another title that I do not like at all for the same that we have commented in Sabadell. Now, in this case I think that the title still has a margin of rise to the resistance zone of 0.43 euros (the clavicular line of the bearish formation that has already met its fall target). In short, the two values are bearish despite the rebounds of the past few days. Thanks to you, greetings.
Good morning Mr. Rodríguez. If possible, I would be grateful if you could indicate which are the most relevant resistances and supports of ArcelorMittal, as well as where I would place a loss stop loss ’, for shares that I have bought at 8.88 euros. Thankful, sincerely. A.LG.
Dear investor, good afternoon. The short-term control zones, although somewhat remote, are very clear in ArcelorMittal. Below we have the support of 6.98 euros and, above all, the historical lows in the area of six euros, where it has double support. While on the resistance side we have the weekly bearish gap of 11.55 euros. And the ‘stop’, although very remote, cannot be another level than the important support it presents at the historical lows that we have previously referred to. Know that the ‘stop’ is set by the market and not by the investor for its own sake. At the end of the day, the double and impeccable support in the six euros is a clear, resounding sign of where the support is to respect at all times. Thanks to you, greetings.
Dear José María. First of all, I would like to thank you for your invaluable analysis that I try not to miss. For this reason, I would appreciate a few words about Tubacex, a bullish value at the moment and I would like to know what we can expect as a technician. Thanks again and good day. WRONG.
Dear reader, good afternoon. Well I'm sorry to tell you that Tubacex It is a title that I do not like. And I don't like it because it recently pierced the support it had at the 2016 lows (1.34). And while it is true that you can bounce hard without any problem, the damage has already been done because the last fall has led you to build a new decreasing minimum. And so it doesn't go up. To begin to see some light in this title, you should leave behind the bearish guideline, now at three euros. Levels far removed from the current ones. Sorry but no, I don't like this title. Thank you and equally gentleman, greetings.
Hello, José María. Could you tell me supports and resistance of oil in the very short term? Regards. C.M.
Dear investor, good afternoon. First of all, I invite you to read here the analysis that this Thursday we carried out on the Petroleum. Their situation is similar to that of many stocks in our market that are trying to close the weekly bearish gap in mid-March. ‘Gaps’ that on the other hand have been closed in many of the European stocks, but not in the case of our market since it is still the weakest. Let's see how oil reacts to this gap and whether or not it will be able to close it. A greeting.
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