Technical analysis office: Cellnex, OHL, Iberdrola, ArcelorMittal, Duro Felguera, Airtificial, Kering and LVMH
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 Iberdrola, ArcelorMittal, OHL, Duro Felguera, Airtificial, LVMH, Kering and Cellnex.
Good morning, José María. Thank you very much for the analyzes you do, they are really interesting and helpful. I have a question at Iberdrola. How do you see the value journey? Do you think that the correction we are experiencing lately is an indication of a lack of strength and the beginning of a greater adjustment? On the other hand, do you think it is too late to enter ArcelorMittal? Thank you very much. A greeting. X.V.
Dear investor, good afternoon. Despite the significant drops in recent weeks in Iberdrola the bottom trend of the electricity company is still bullish. Another thing is that in the short term we have you in the corrective phase. Let's see if the potential support zone in the range of 10.80-10.85 euros manages to stop the falls, coinciding with a 61.8% adjustment / retracement of the entire rise from the November lows. As the most important resistance at the current moment, we have the origin of the last big bullish momentum at 9.95 euros: the October lows. What is clear is that every time Iberdrola has corrected strongly, in the end it has ended up proving that it was a good opportunity to get on the shopping train.
As to ArcelorMittal I like how it has rebounded from the support, before resistance, of 17.20 euros. What happens is that buying now is arriving too late to the market, which does not mean that it cannot go higher. At least we are clear that there is significant support at 17-17.20 euros. Therefore, if we are clear that this should be our very short term 'stop loss', then go ahead with the long ones. The danger of losing 17 euros is that it can lead to a corrective phase that drains / proportionally adjusts the entire rise from the March 2020 lows. Above, on the resistance side, we have 21.04 euros and then the area of 23.85-24 euros. Very kind for your words, thank you very much. A greeting.
Hello good day. Could you tell me something in the short term about OHL, Duro Felguera and Airtificial? Thank you! M.S.
Dear reader, good afternoon. OHL It is a value that we have been repeating the same over and over again for several years. It is a value not to touch, to forget about it regardless of the fact that it may occasionally experience significant rebounds against trend (reaction phases). OHL is unapologetically bearish and, furthermore, if we believe the huge ‘head and shoulders’ that it presents, it points towards the all-time lows (0.1835) and even lower. I'd better forget about this title at the present time, it's a waste of time.
Hard Felguera it is also a bearish value in terms of medium and long term. But that is rebounding strongly in recent weeks. In fact, one could guess a potential upside-down "head and shoulders" upside-down figure, with a corresponding "throw back." You can continue to do well in the short term, for the next few weeks / months. But a server is not a friend of this type of title. In fact, I reaffirm what I always say that the market is going to buy strength, not weakness. And Duro Felguera is not exactly a bullish value in terms of medium and long term.
Finally, regarding Airtificial, three quarters of the same that we have commented in Duro Felguera. The only thing that, at least in this case, is clear that there is significant support at the January lows (0.1070), the last reaction low from where it is bouncing. Or what is the same, if we are clear that said support should hold (stop), go ahead with the longs. At least it appears that we have seen support in the form of a 'throw back' to the top of last year's bull channel. And in theory, after correcting the latest increases proportionally, it is possible to bet on a new bullish section. In a clear deep downtrend, don't forget. A greeting.
Good Morning. I am planning an entry into the European luxury sector, at the end of the year I sold and now I want to enter again. For this I am following two French stocks: Kering and LVMH. They are both bullish in the long term and I would like to know what possible entry points we could have. Thank you very much. P.MM.
Dear investor, good afternoon. Kering it is a bullish value in terms of medium and long term, that is undeniable. Now, in the short it seems that it has been choked by the important resistance zone that it presented in the area of all-time highs: 615 euros. Now the price has left us an important control zone above the 615-630 euros. The weekly oversold is important and this, in theory, should limit the risk of major declines from current price levels. But what is really important is that we are talking about a long-term bullish value and each time it corrects with some force, in the end it shows us that it is a good opportunity to get on the shopping train.
As to LVMH, the graph says it all. In recent days he has been setting, albeit shyly, new all-time highs. Therefore and by definition it is an absolute free rise value. The upper part of the bull channel, towards which it seems to be heading (which is a dynamic resistance), is currently passing through the 600 euro area. And the base of this, by definition support, for approx. 470 euros. Thanks to you, greetings.
Good Morning. I bought Cellnex at 51.68 euros at the beginning of December and I would like to know how you see the value. I was very confident in it, but I don't know whether to undo positions or increase them with a horizon of about 6-8 months. Thank you very much for the analysis. I.CG.
Dear reader, good afternoon. Cellnex it is beginning to play with fire when it comes to the short term. In recent reviews of the company we have commented that longs could be opened on the stock based on the possibility that it was trying to restructure to the upside from a potential bullish guideline. But that the condition we put on it was that it under no circumstances pierce the support it has at the January lows (45.75) and which is beginning to lose. Therefore, be very careful with piercing this support because curves can come. Thanks to you, greetings.
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