Technical Analysis Practice: Arcelor, Audax, Liberbank, Alibaba, Novo Nordisk, Pfizer, Microchip and ASML
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 Alibaba, ASML Holding, Novo Nordisk, Audax Renovables, Pfizer, ArcelorMittal, Liberbank and Microchip.
Good Morning. I would appreciate if you can analyze the technical aspect of Alibaba, action very followed lately by its harsh corrective since mid-November. Thank you in advance and receive a warm greeting. S.
Dear reader, good afternoon. True, Alibaba He has been undergoing a tough correction in recent months. Movement that can fit within what is a corrective ‘abc’. The weekly oversold yields extreme readings, which should serve to somewhat limit the potential for further further declines. That said, it presents a potential support zone around $ 210 and, perhaps, around those levels we can try again to the upside in the title. In any case, and despite the significant falls in recent weeks, the stock continues to be bullish in terms of the medium and long term, which is what should really matter to us. Thanks to you, greetings.
Hello, José María. Thank you very much for offering us this magnificent section. I would like to ask you about ASML and Novo Nordisk, I am a long-term investor, but I am afraid to enter at the wrong time. What technical situation are they currently in? Regards. E.F.
Dear investor, good afternoon. ASML It is one of the European technological values that I like the most. It presents an impeccable upward trend in all terms. The only 'but' at the moment is the fact that getting on the shopping train now feels like doing it too late. And even more so when it seems to attack the upper part, by definition resistance, of an impeccable long-term bullish channel. Although if it exceeds it easily, the upward trend is likely to accelerate even more. This title is a clear hold in the portfolio, but if I had to consider entering now, I would only do so in corrections and at the closest possible price levels to the support it has at 355 euros (previously resistance).
As for the Danish company Novo Nordisk, we have it deploying a lateral movement with support at 400 DKK (Danish crowns) and resistance at 468 DKK. This side has lasted since April 2020 and takes place in an area of all-time highs. From which it is easily deduced that the upward trend of the stock is clearly upward in terms of the medium and long term. The operation in this case would be to open longs at the price levels closest to the base of the side, or when the price confirms above the historical highs. Very kind for your words, thank you very much.
Good morning, José María. How do you like Audax at current prices? Sound like an interesting purchase? Supports and resistors. Thank you very much, greetings. E.G.
Dear investor, good afternoon. Audax Renewables we analyzed it this Tuesday (read it here). It's a very interesting title at the moment, as it looks like it can hit major resistances with success. A weekly close well above the bearish guideline would undoubtedly be a first sign of strength, a warning to boaters that something may be beginning to change (for the better) in the title. At the moment there are four attempts by the price to overcome the resistance, but at least we are very clear where the price level to beat is, which is no small thing. A greeting.
Good morning, I would like to know what technical aspect Pfizer shows, because I do not understand that everyone wants to buy its vaccine and, nevertheless, the title does nothing more than correct almost from the announcement of the same. Thanks a lot. A.G.
Dear reader, good afternoon. It is true that we have witnessed significant falls in Pfizer, but also in Moderna and BioNTech. Probably because of that maxim that is almost always fulfilled in the stock market and that says “buy with the rumor and sell with the news”. That said, and if we try to eliminate a bit of all the noise that the price is experiencing in the last weeks / months, it seems that we have you at interesting price levels to try again on the rise. The last falls would fit within what is a support / throw back to the new support zone, before resistance, of approximately $ 37. So we cannot rule out that from here, little by little, it will try to restructure upwards again with a target to rise at the 2020 highs ($ 43.08) and above the historical highs at $ 47.44. Come on, if there is an interesting time to try again on the upside, it should be now. A greeting.
Good morning, could you analyze Arcelor and Liberbank? Would it be a good time to enter now? Thank you. S.HA.
Dear investor, good afternoon. I don't see entering now ArcelorMittal because it would be arriving very late to the market and by that I do not mean that it cannot go higher. It has overcome numerous important resistances in recent times and I would only consider doing so if it corrected and somehow fell towards some important support. The first of them, the most immediate, we have it at 16.90-17 euros (before resistance). In addition to the fact that we have the price at the 61.8% adjustment / retracement level of the entire big drop from the highs of 2018. That is, the area of 21 euros can act as an important resistance in the short term. I don't see entering now because, if we do, where do we place the 'stop loss'? This one, after the last ‘rally’ should be very generous and thus we should not enter the market.
As to Liberbank, value that we analyze this TuesdayAt least the graph is much clearer than the steelmaker's. The price structure continues to be bearish in terms of the medium and long term. But at least we know that if we want to get on the shopping train we should wait for it to be able to clearly confirm above the bearish channel of recent years. The upper part of this, which coincides with the last decreasing maximum, we have it at 0.29 euros. A greeting.
Good morning, José María. Please, could you analyze Microchip Technology for me? With entry points, 'stop loss' and target price. Thank you very much for your invaluable work. A.GC.
Dear reader, good afternoon. The problem of Microchip Technologies it is that of many other values that are at all-time highs. We run the risk of arriving too late and at the minimum that there is a proportional adjustment / correction of the previous rises, we will be hooked on significantly high prices. The last buy signal came when it left the resistance (now support) of $ 115- $ 116 behind. As more immediate support we have the area of approx. $ 130 and below the $ 115- $ 116 mentioned above. Needless to say, I like the title, of course I like it. Especially since it is very bullish. But not at any price, or at least not without a correction from previous raises. Thank you very much, greetings.
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