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BBVA video analysis: it has just filled in the impressive weekly bearish gap for March


'The Wall Street Journal' (WSJ) published this weekend that BBVA has sold its business in the US to PNC Financial for 9.7 billion euros.

Technical analysis

Short term

Medium term

Long term

BBVA has reached an agreement with PNC Financial Services Group to the sale of 100% of the capital stock of its subsidiary BBVA USA, as well as other companies of the BBVA group in the United States with activities related to said banking business. The price amounts to US $ 11.6 billion (equivalent to € 9.7 billion) and the transaction will be paid entirely in cash.

Technically, the title has awakened leaving an imposing daily bullish gap that could end up being weekly at 3,174 euros. In fact, it is very likely that it will turn into a weekly gap. That said, what is really important at this point is that the price has filled in, not closed, the impressive weekly bearish gap for March: 3,815 euros. To close it, we will need the price to close above the closing price on Friday. Closing it would be a more than interesting sign of strength not seen in a long time.

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