Technical analysis office: Telefónica, Meliá, Quabit, Correa, Renta Corporación, IAG, Airbus and bitcoin
Next, we give an answer to the values for which we have been asked the most throughout the morning. José María Rodríguez, technical analyst at Bolsamanía, analyzes Telefónica, Quabit, Nicolás Correa, Renta Corporación, Meliá Hotels, IAG, Airbus and bitcoin.
Good José María. I have Telefónica shares at 3.60 euros from when the March crash and the truth is that he promised me very happy for the good purchase price, but the truth is that the action has no force. And I don't know whether to buy more or sell them, this title has me very confused. Can you indicate support and resistance to watch? Thank you very much and receive a warm greeting. E.D.
Dear reader, good afternoon. Let's go step by step to see what the price wants to tell us. Telephone It is very bearish despite the rebounds against trend that sometimes occur (reaction phases), but the truth is that if there is a moment to jump into the pool it is right now, from the support zone of the annual minimums: the March lows at 3,389 euros. It is too early to launch the bells on the fly, but at least we have a double support (not double bottom) in the area of annual lows.
If later this double support ends up becoming something else, only time will tell. Therefore, if it is necessary to try to rise, it is now, under the condition that the March lows hold yes or yes. Above, on the resistance side, the most important (and very far from the price) is in the June highs, 4.80 euros. Thank you very much, greetings.
Good Morning. My question is about Nicolás Correa and Quabit. How do you see it in the medium-long term? What levels of support and resistance should we take into account when entering? Thanks for all. Greetings. L.R.
Dear investor, good afternoon. Let's say what I like the most about Nicolas Correa is that we know where the support is to be respected at all times. We have an impeccable long-term bullish guideline that, in addition, can be said to coincide with the horizontal support it presents at 2.75-2.80 euros: the lows of 2018 and this year. Which means that the optimal strategy at this time is to open longs at the closest possible price levels to said support, on the condition that (in weekly candles) it holds. The confirmation of the loss of this would be a clear sign of weakness in that it would be shaping a great ‘head and shoulders’ with important bearish implications for the title.
As to Quabit, is bearish without hesitation. Not only because it presents impeccable maximums and decreasing minimums in all terms, but also. Also, it has recently set new all-time lows, and that is a sign of extreme weakness. As I like to remember, the market is going to buy strength, not weakness. And by buying Quabit I am buying extreme weakness. That's not how you enter the market, sir. Thank you very much, greetings.
Good morning, Mr. José María. I would be grateful if you could analyze Renta Corporación and Meliá Hotels. My question is whether you think they are a good option for the medium term. I congratulate you for your good outreach work every day. Greetings from Cuenca. G.RC.
Dear reader, good afternoon. Income Corporation it is trading right at this moment in the middle of the support zone: the April lows at 1.40 euros. That is, any possibility of recovery happens because in weekly candles hold this support. The potential loss of it would be a worrying sign of weakness that could end up taking it towards the area of historical lows (0.50-0.55). But yes, if you have to try to rise, it must be right now, in the middle of the support zone. As resistance we have the last great decreasing maximum at 2.15 euros.
As to Meliá Hotels, this is still a very bearish value. In recent days it has been lurching very strongly both up and down. But always within a clear background downtrend, or primary. In recent days, both up and down movements are being wider than normal, but in reality nothing has changed. It is bearish without hesitation and a return to annual lows cannot yet be ruled out. I invite you to read here the technical analysis that we carried out this Thursday on the hotel company. Very kind for your words, thank you very much.
Good morning, Mr. Rodríguez. I have IAG shares at 2.44 euros and Airbus at 68.76 euros. I'm in no rush to sell, I'm going long-term. But I think it never hurts to know which supports they have to respect at all times to place the 'stop' there. Which would be? And what resistances should you also monitor? Thanks for this section, greetings. R.O.
Dear investor, good afternoon. IAG it continues, like all companies related to tourism, lurching strongly both up and down. We do not have any figure of return that confirms the end of the falls, but it is possible that after respecting the area of annual minimums it is trying to build bullish divergences weekly. Divergences that can bring important rebounds for the next weeks / months. Above, on the resistance side, the most important continues to be in the weekly bearish gap of 3.95-4 euros.
As to Airbus, it is a value that in the short term I like. Above all, because above the July highs we have confirmed a small double floor. Figure of return that can end up taking him to the resistance zone that presents in the 85 euros (the maximum of June). In any case, any possibility that the security tries to restructure upwards happens because the support of 60 euros is respected. Thank you very much, greetings.
Hello good day. I have had a bitcoin for several years at $ 8,200 approx. What do you recommend that I do? Because the truth is, I'm beyond bored with this position. Regards. J.B.
Dear reader, good afternoon. Let's see, because with him bitcoin you never quite know. But, a priori, we have an inverted 'head and shoulders' back figure that has been confirmed above the $ 10,500 resistance. Return figure that if it were to be fulfilled would take him to the area of historical maximums. Read here the latest analysis we have done on the king of cryptocurrencies. For now, the falls of the last days come to drain / proportionally adjust the rise from 9,200 to 12,000 dollars in a few sessions. A greeting.
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