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Technical analysis office: Telefónica, IAG, Airbus, Codere, Faes, Ercros, Macy´s and Rio Tinto


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 Rio Tinto, Airbus, Telefónica, Faes, IAG, Macy´s, Codere and Ercros.

Technical analysis

Good morning, José María. Nice to meet you. I wanted to ask you if I could analyze the Rio Tinto action, which looks like an inverted shoulder head shoulder is formed. Thank you very much for your analysis. They help us a lot. Regards. J.L.

Dear investor, good afternoon. It could be. Having said that, Rio Tinto it is an interesting value. In addition to the simple fact that it is a bullish value in long term terms, which is what really interests us. Although on the other hand we have significant resistance just around the corner, around 5,000 pence. In fact this price level would have acted as resistance in 2008 and 2019, which is just where it is now. From which it follows that a weekly close above 5,000 would be a clear sign of strength in the company, since from that moment it would be placed on an absolute free rise, with the bullish implications that it usually has. Without a doubt it is a most interesting title at the present time. Thank you very much, greetings.

Rio Tinto weekly chart

Good morning, my query is in reference to Airbus. Where are the supports and resistances currently? What objective value can it have? Thank you very much. J.CR.

Dear reader, good afternoon. Everything related to airlines is still very much touched and Airbus it was not going to be less. Back figure we do not have today in the title and in reality the only thing to grab on to in the short term is the support of 60 euros. Piercing it would be a troubling sign of weakness in the title. Or rather, any possibility that from here you try to build a rebound happens to be able to respect this support. Failure to do so would leave the door open to the possibility of returning to the annual minimum at 48 euros. Above, on the resistance side, we have 70.74 euros and above and more importantly 85 euros: the June highs. Thank you very much, greetings.

Airbus daily chart

Good morning, Mr. José María. First of all, congratulations on your accurate analysis. I wanted to ask you about the perspectives of two securities that I have in portfolio with moderate losses: Telefónica and Faes. Thank you very much. F.B.

Dear investor, good afternoon. Very ugly the aspect that continues presenting Telefónica. Rebounds aside everything seems to indicate that you can look for the annual minimum at 3.39 euros. And let's cross our fingers so I don't pierce them. The problem with this title is that it has such a strong downtrend that, even if it bounced (and I'm not saying it will) to 5.10 euros, nothing would change in the least. Not to mention the impeccable bearish guideline that it presents since the highs of 2015 and that at the present time passes by 6.15-6.20 euros. In short, it is impeccably bearish.

Telefónica weekly chart

As to Faes This Monday it is drilling the support that it presents at 3.45 euros. If the loss of this support is finally confirmed clearly, I am very afraid that it will go, rebounding apart, to the annual lows of 2.97 euros. The only thing to hold onto in the short term in the title is the support of the May lows. Therefore, if it is drilled I will have no reason to be optimistic in this title. Very kind for your words, thank you very much.

Faes Farma daily chart

Dear José María, I am following your analyzes with great interest. I would like to ask you, what do you think of IAG? From the lows of 1.80 euros, it recovered to four euros and then began to drop strongly. What are the prospects of recovering its historical highs at eight euros and for how long? Thank you very much and greetings. S.B.

Dear reader, good afternoon. What you he asks me he has no answer, at least not for any analyst. There is no point in considering a return to all-time highs because it never does. We know how it all started, but we don't know how it will end. And many companies are likely to end up disappearing, and I'm not saying that is the case with IAG. But what IAG has done has been filling (not closing) the weekly bearish gap in mid-March at 3.95 euros and from there it has fallen again. At the end of June we already warned that we did not like the monthly candle in June and the truth is that things change a lot or I am afraid that it will attack the annual lows again at 1.80 euros. And let's cross our fingers so they can hold and don't get pierced. Thanks to you, greetings.

IAG weekly chart

Good morning, Mr. José María. My question is about Macy´s in the short and long term. Thank you very much. A.F.

Dear investor, good afternoon. Macy´s It is an impeccably bearish title in terms of the medium and long term. It's actually a free fall title. The only thing we can hold on to is the fact that the annual lows correspond to the declining support that joins the 1992 and 2008 lows that passes right through the April lows. Let's say that based on this straight support, it is possible that, taking your time, you will try to build some kind of figure back later. What is clear is that it cannot be more bearish, but it is possible that the annual low zone ($ 4.38) could end up acting as a support. Thank you very much, greetings.

Macy´s weekly chart

Hello good day. I wanted to ask about Codere shares bought at 2.13 euros. What do you think? Thank you. R.M.

Dear reader, good afternoon. Elbow It is bearish without reckoning. You really only have to look at the weekly long-term chart to realize this, in addition to the impeccable resistance that it presents in the bearish guideline that joins the successive decreasing maximums since 2015. This is currently happening at approximately 3-3 , 05 euros. Which means that even if it bounced up there, and I'm not saying I'm going to, nothing would really change. It would be a simple bounce, the umpteenth, towards the bearish guideline. Thanks to you, greetings.

Codere weekly chart

Good evening, I would like to know if it is time to buy Ercros in the long term, and at what price? Thank you very much for your attention. J.C.

Dear investor, good afternoon. Ercros It is not a title that I particularly like, although it is true that we have been deploying it laterally since the beginning of 2019. And in the short term we have to look at the important support of 1,374 euros (March lows). Or what is the same, the only strategy at the moment is to try it at the price levels closest to this support on the condition that it does not pierce it. And the truth is that the renewed weakness of our Ibex, which is still very much touched, can give us new scares in the short term and lead the bulk of the market to lose support. Thank you very much, greetings.

Ercros weekly chart

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