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PharmaMar, Bankinter and IAG, the three values ​​that increased the most in the first quarter


The first quarter of 2021 is already part of history and with an Ibex rising 6.27% in the accumulated of the year we have strong increases in many of the values. Below, the losses of Solaria (-21%) and Red Eléctrica (-10%) stand out.

Technical analysis

Sabadell, IAG and Telefónica were the 'Ibex dogs' 2020. Today these increase in 2021 by 27%, 36% and 18%, respectively. It seems that the strategy of investing in those stocks that have fallen the most in a year can work very well this year. Even though is not always like that. The great engine of this first quarter is the banks (the EURO STOXX Banks rises 20% in the year) and we already know the important specific weight of this. On the other hand, electricity and renewables are the ones that are weighing down our selective. With everything, Iberdrola and Endesa are two clearly bullish stocks in long-term terms despite the fact that this year, for the moment, they have not finished starting.


It is a bullish title in terms of the medium term, although in the short we have it immersed within a wide side. Inside this side you can see an important support in the bullish gap of the session of January 26, at 87.74 euros. And this is where the return-risk equation becomes optimal on the long side (bullish) with a 'stop loss' in the gap itself. Above, on the side of resistance, the most immediate is found at 120 euros and above and with greater depth we have the October highs at 148 euros. It would seem that in the short term we have him in a nobody's zone, relatively far from key supports and resistances. In any case, I insist, the ideal is to be able to open longs (bullish positions) at the price levels closest to the 'gap'.

PharmaMar daily chart


It can be said that this title is the only one within the financial sector that can be considered bullish in long-term terms. Despite the falls this Thursday the weekly chart points to good manners. In fact, the penultimate weekly candle fits perfectly within what is a 'throw back' to the old bearish guideline: the line that joins the successive decreasing highs since May 2018. This straight dynamic resistance was overcome at the beginning of March and recently the stock has leaned on it, but now as support. It can be said that the stock no longer has significant resistance up to the 6.50 euro area, the highs of early 2020. At the bottom, on the support side, we have the two euro area.

Bankinter weekly chart


We analyzed this value at the beginning of last week and we said about it that of "a double shock"In the weekly bearish gap at the end of March. And at the moment there are no changes either. After the strong rises this Thursday, everything indicates that this time the price can successfully attack the resistance it presents in the weekly bearish gap in March: 2.62 euros. This gap has been filled twice since then, but it has not been closed or, in other words, canceled. Doing so would be a clear sign of strength in value. If it ends up closing the bearish gap, we have the following objectives in the 2.85 euros (2019 low) and above the weekly bearish gap of mid-March in the 3.30 euros.

IAG weekly chart

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