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Santander: it is vital that the support of 1.50 euros holds yes or yes

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Last week, after confessing to the market, we analyzed the title and said about it that the return-risk equation it was optimal at the level of 1.50 euros.

Technical analysis
DOWN TRENDING VALUES

Short term

Medium term

Long term

Prices can often spend a long time lurching both up and down without actually anything happening. Let nothing change in a significant way. And this is what happens in the financial sector, which can bounce strongly without ceasing to be bearish for that reason, as happened in the important rebound of early September and which later has proven to be a mirage, a simple rebound against trend. In the case that concerns us, the interesting thing is in the support level of 1.50 euros. Here we have a new support, it would be a third support along with the 1998 and 2002 lows. That is no small thing. We have no return figure of any kind, nor is it expected. But we know we have a key support, critical I daresay, from which you are trying to build a more or less consistent bounce. Hence, in recent sessions / weeks we repeat that if we have to jump into the pool it must be now and with a 'stop loss' (preferably in weekly candles) below the support of 1.50 euros.

Santander monthly chart

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