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Buying Sabadell is buying extreme weakness: at 10% of the historical lows



Far are the price levels reached at the beginning of September after the "heat" by the sectoral concentration operations in our country after knowing the merger between Bankia and CaixaBank.

Technical analysis

Short term

Medium term

Long term

The strong rebound that banks experienced at the beginning of September in the heat of mergers, of sector concentration, has been a mirage. The vast majority of banks have retraced everything they walked by then. And especially in the case of Sabadell. This is already only 10% of the annual and historical lows at 0.2501 euros. Actually it is the only support that it presents since there is nothing underneath. Underneath it would be placed again in absolute free fall and we already know the danger that this situation entails for prices. From which it can be deduced that if it is necessary to try in this title it only makes sense to do it at the closest possible price levels to the support with a 'stop loss' at closing prices below.

Sabadell weekly chart



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