IBEX 35 in the 15,300 points. What are the levels of technical relevance?
At the moment the upward trend is still in force, which is the important thing. The level through which the average of 30 weeks passes, and that tells us that it is still upward, is 14,533 points. While the price is maintained above, it is most likely that the selective continues to rise with a target in the 16,000-16,200 points by the end of the year. It is possible that there is some scare or correction but, if I had to choose an index in Europe, it would be the IBEX 35. In the case of the S&P 500, it remains very comfortably above 6,280 points, which is where the average passes, but except for small bass intermediates, it would be normal to try to maintain high exposure to variable income. And if we look at small and medium, they are also supporting what gives market depth and allows us to think that at the end of the year we see levels even above the current ones.
Solaria Retrieve positions again these hours rises more than 4.3% after beating records with their results. What levels are relevant in value?
There were people who wanted to enter the value, who had had a rise in «V» without practically breaks. Now he has done it and that is where he would wait to enter, around 10,449-10.45 euros is the ideal point because it is the level at which the profitability equation – risk is acceptable. It would place a stop below the minimum of the week, at 10,205-10.18 euros, around 5%, with possible objectives in the 12-13.80 euros.
On the contrary, ArcelorMittal It falls more than 2% this Tuesday. One of the values that has also risen this year. Does this fall in some way the current upward trend? What levels should we worry?
He is not breaking anything in the trend, something he would have to lose the 28.30 euros. Last week he broke the resistance, which is now support, in the 30.48 euros and the minimum of the week has been that level. I see it more as an entry opportunity. It is making a kind of Pull Back at resistance levels of 30.48 euros and between 30-30.50 euros will be at an interesting purchase point with an aspect that begins to be clearly bullish. We will look at that level that acts as a support, to enter with Stop at 28.10 -28.15 euros.
Where would you look at the present time
You have to look at the values that have contributed the most to the upward trend. CaixaBank, in Ibex 35, looks very clear. The good situation of the sector helps you and be part of one of the strongest indexes in Europe as well. Stop in the area of 8.01-8,022 euros, which would be close to 10%. On the other hand, Mapfre is in the area of 4 euros, with this he would have made a first objective and we will see if he is able to sustain himself but has a clear upward trend.