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Technical analysis office: BBVA, Ence, Enagás, Acerinox, Almirall, Mapfre, Cisco Systems and the Nikkei



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 Enagás, Cisco Systems, Ence, BBVA, Mapfre, Acerinox, Almirall and the Nikkei.

Technical analysis

Good morning, José María. First of all, I wanted to thank you for your very pertinent analysis that I always read with great interest. My query is regarding Enagás and also Cisco Systems, which have not finished raising their heads. If you can analyze them and give me your opinion. Thanks a lot. YOU.

Dear reader, good afternoon. Enagas It is a most interesting title despite the wide lateral movement by which the price has been moving since 2015. But it is also that the minimums of last week (specific dilations aside) coincide with what would be the fifth support or point of tangency to the upward guideline on which the value has been supporting since 2009. So it cannot be ruled out that it may even head from here to the important resistance zone that it presents in the February highs (also all-time highs), at 25.16 euros.

As to Cisco Systems, the stock is clearly bullish in terms of medium and long term despite the declines in recent times. We have impeccable rising lows and a clear bullish guideline on which the price has been supporting since 2011. Now it remains to be seen if it will be able to overcome the resistance of $ 48.50 (August highs), in which case it would be normal to bet for a return to the 2019 highs at $ 58.26. They are both bullish values ​​and that is the only thing that should matter to us. Thanks to you, greetings.

Hello good day. Can you give me your opinion on Ence in the short and medium term? What has to happen for us to talk about a change in trend? And how do you see BBVA? Thank you. A.M.

Dear reader, good afternoon. Ence we analyze it this Thursday (You can read it here) and the truth is that it is one of the most interesting values ​​at the present time. Let's say that above 3.30 euros in weekly candles it will have left behind important resistance. In addition to the large double bottom formation that it may be shaping, with significant bullish implications for price. In terms of the medium term, of course. It is, in my opinion, one of the most interesting values ​​at the moment.

As to BBVA and after almost doubling its price from the September lows, it is advisable to be cautious in the short term. And the reason is none other than the fact that we have the bearish guideline which joins the decreasing highs since the beginning of 2018 just around the corner. Let's say there is a potential resistance zone at the level of approximately € 4.50. At the bottom, on the support side, the most important could not be other than the wide weekly bullish gap of 3.18 euros. This is where the return-risk equation becomes optimal on the long (bullish) side, with a 'stop loss' in the gap itself. Thanks to you, greetings.

Hello. I have in portfolio Mapfre shares at 1.39 euros and Acerinox at 7.20 euros. I think they are good prices in the long term. What is your forecast for the titles one year ahead? Thank you. E.D.

Dear investor, good afternoon. The most I like of Mapfre it is the fact that it presents a clear and impeccable double support at the March and October lows: 1.25 euros. This support also corresponds to the minimum of February 2016. In other words, we have three supports in that support. From which it follows that as long as said support zone is not pierced, longs with a 'stop loss' below can be maintained / adopted. Above the June highs (1,835), it would also confirm a double bottom figure.

Acerinox It is one of those titles that has managed to close the weekly bearish gap in March well before the vast majority. In fact, many are currently attacking homologous resistance. And others like Telefónica are still very far from this resistance. That said, the title presents significant resistance at the annual highs (9.79) and above it we have the upper part of the bearish channel through which the price has been moving since 2015 and which is currently passing through the 10 area. ,30 euros. Only by clearly closing above the bearish channel and in weekly candles can we consider a change in trend in medium and long-term terms. A greeting.

Good morning, José María. I have Almirall shares at 9.97 euros and I would like you to analyze the Nikkei, with a view to investing in a Japanese stock fund that has been recommended to me. Do you think this market can do well in the next few years? Thanks for your excellent work. O.R.

Dear investor, good afternoon. Almirall It is one of the ‘small caps’ of our market that I like the most at the moment in terms of medium and long term. Why? Due to the flawlessness of the last support in the long-term bullish guideline, which unites all the rising lows since the end of 2011. Let's say that as long as it does not close below the support of 8.60 euros (March lows ) we will not have any sign of weakness in the current price structure in terms of the medium and long term. Above we are going to look at the resistance of 13.50 euros (May highs). From that moment on, a double bottom would be confirmed, aiming at the all-time highs (18 euros).

Regarding the Nikkei, it has recently broken up strongly. In fact, it is at price levels not seen since April 1991. As the most important support zone, we currently have 24,000 points. Let's say the sensations are good. Since 2012 we have impeccable minimums and rising maximums and thus it does not fall. So, answering the question that you are throwing at me, the really important thing is that the index has recently left behind significant resistance. And the normal thing is that, in terms of the medium and long term, it tries to return to the all-time highs at 39,000 points. Very kind for your words, thank you very much.

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